I was in the same predicament as you; wanted a sub 4 pound 3 season tent for under $150. Went to my local base camp and they had just gotten in a Terra Nova Wild Country Zephorous 2. It weighs 3.5 lbs and is essentially a huge bivvy with a vestibule that surrounds the entire tent. Its really durable as well and I only payed $140 for it. I believe terra nova is a european company thats why you dont see them too much over here and are hard to find. Heres a place I found that sells them in the US http://www.altrec.com/terra-nova-equ...ephyros-2-tent
Heres a forum that has a bunch of pics and reviews http://www.outdoorsmagic.com/forum/f...utn=46381&umn=
Its not the easiest to set up but you cant get much better or lighter for $140. If some one knows of a better option for the same price let me know, I still have over a month to return this one.