I was at HD, and happened to be carrying a postal scale in my car, so took it inside. I weighed a number of the underlayments available, and here's what I found (compared to GossamerGear's Thinlight Evazote on the first line):
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Most of the underlayment is around .08-.09 in thickness; some of it seems ideal for protecting a tent floor or sleeping pad, and adding a bit of insulation. For example, the one that made the best impression on me was the FloorMuffler, which seemed resilient and tough–but still light at .31 oz per square foot. For 8 square feet of it (that's what GG sells you) the floor underlayments would cost between $1.00 and $5.20 for a pad. But you have to buy a roll of it; that's the catch. And who needs 100 square foot of underlayment. Chop it up and send it to your BPL buddies, but then, there's postage.
The ounce/square foot numbers are all very reasonable; about same weight as 1/8 Thinlight but the Thinlight is obviously thicker for that same weight.
The actual material can be closed cell foam, foam balls adhered to a plastic sheet, and an interesting foam bonded to a reflective plastic surface (the TrafficMaster Premium)–advertised as the option for warming your floor. There's also felt/fiber underlayment, but I didn't mess with that, it's heavy.
I'm about to buy a piece of GG 1/8" Thinlight, and one thing I'll be watching for is evazote's durability, and how compact I can get it–does it take folds nicely, or must it be rolled? I wonder, if compactness along with pad protection, is top priority (over insulation) then perhaps underlayment might make a good option?
If I had a roll of, say, the FloorMuffler, I'd also try to make a vest out of it.
EDIT: I forgot to add, all these rolls are 4 ft wide. So if you sliced the short way, you could make about 15x 4 foot torso pads. If you cut the long way, aiming for 60x 20" pads, you'd get 10 of them per roll, and a really long strip of waste 8" wide.
EDIT 2: The GG pad is actually $24 with shipping. So that's more like $3 per square foot.