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It's hard to find a rain jacket smaller and lighter than the Helium. It weighs 6.3 oz and packs down to the size of my hand.
Will it keep you dry? The Helium does a good job in intermittent rain and light drizzle. It eventually wets out in heavy prolonged rain, as most 2.5 layer rain jackets do, so it's not the best choice for especially wet, cold, or stormy conditions.
For such a lightweight piece of gear, the Helium is surprisingly competitive on price. You can often find it on sale for less than its $180 MSRP.