haydukelives! I missed that you were asking about the $17 version. I used one as part of my sleep system in '13 CTR. It held up fine, but doesn't breath well. I personally wouldn't use it again. I've been using the SOL breathable $40 version as a bag or external to a sleeping bag depending on weather along with and external bivy from Oware that has a screen to keep the bugs at bay. But for $17 bucks if you're going light and fast and don't plan on sleeping much, it's a tempting option.
How's that Oware bivy hold up in the rain? I've worked for Outwardbound in the past. They supply our tarps, gators, and some other stuff. I like the construction.