Many will scoff and call it useless. For the past 6 months, I have been carrying this tripod with me on my bike:

http://www.manfrotto.com/Jahia/site/manfrotto/pid/18053

I won't claim it's a steady as my 055 with rugged ball head. However, it's the biggest tripod that I can carry all the time and certainly makes a drastic improvement over hand-held. It actually works better with Rollei TLR than with my M3, as the Leica has its tripod hole way off-centre. For travel, I invert the centre column, and it's only a little taller than a big stainless steel Thermos bottle. Cost was about CAN$120.