This is my current favorite portable system. It is very lightweight and easy to set up. Also the canvas holder system is really nice. You can fit panels on and also stretched panels. The narrow lip holds the panel really firmly and is completely unobtrusive.
Even then I am finding the palette a little on the small side for my taste because I like to use a lot of impasto paint, but it is probably fine for other people. I still prefer the Gloucester Easel which handles every painting situation very comfortably, but this is a good portable solution for small works.