I am not seeing how a Blizzard Bag is much different from one of the SOL bivvy sacks
the blizzard bag is tested by the university of leeds to an 8 tog insulation value …. which is roughly around a 40F lower limit rated sleeping bag …
you can see how they do this on blizards web site …
it is a proven insulator in use by militaries and rescue services world wide …
theres also youtube videos with people dunked in freezing water in freezing temps who jump in em as a test
There is a matter of degree too. Short hikes in country that you know can be fun in the winter and I would have good basic emergency shelter. This is where the blizzard bag starts to make sense. For longer day hikes, you can get farther in than you can walk out in the same time if it snows, you get disoriented, injured, etc, etc, etc, and that is where I would want the full meal deal.
mr chounard once said something to the effect that if you bring bivy gear, your going to bivy … in climbing thats generally true if you bring a full blown setup, the weight and bulk will likely hold you back
it all depends on conditions … but realistically if you bring so much that youre comfortable while being rescued, it may well be thats part of the reason yr rescued … your too slow due to the weight/bulk … in climbing anyways i see people bring way too much stuff "just in case"
im all a fan of being prepared, but its always a fine line between bringing too much or too little … the more you test yourself the more likely you are to get it right
im not exactly a gram weenie …. but weight and bulk DOES matter if you want to avoid unplanned overnight bivies … bring just enough to survive
;)