I need one that is lightweight and something I don't have to pay an arm and a leg for. I'm not interested in Gerbers, Fiskars or Cold Steel hawks. I've used them and honestly don't like them too much. I wasn't comfortable with my trail hawk. Is there anything else you can recommend?
I can recommend Council Tool Co. line, especially their Hudson Bay axe with a sheath.
http://www.counciltool.com/product.asp?item=17HBS18&ID=30
I have one that takes a good edge and holds it very well.
A tomahawk will not cut or split wood anywhere near as well as this small axe, as they tend to rotate in the hand when cutting and bind at the eye when splitting.
With the steel shank Estwings and such, you can't choke up on them to use to fashion an item out of wood and they are very cold to use in frigid temps.
The hollow synthetic handle models will often not be properly weight-balanced between the handle and the head and feel clumsy compared to a good axe design. Many of the modern wedge-shaped head/synthetic handle versions are too thick at the bit for good cutting and too thin at the eye for good splitting. They do carry well in a pack--which is also what they do best.
There is a definite reason the Hudson Bay axe replaced the tomahawk and became the instrument of choice for the North woodsmen. As a trekking tool it does most things better than hatchets, hawks, traditional Michigan style camp axes, or the new synthetic models. When fashioning an article from wood you can get your hand up behind the blade for controlled shaving. This style is similar to the Wetterlings and Gransfors Bruks who are some of the best axes in the world. If you want a cheap one of this style you may be lucky enough find a Norlund on Ebay or at a flea market that can be rehandled.
IMO you can hardly better the Hudson Bay style head coupled with a 18"-20" long handle as an all-round trekking tool. I like to thin the edge of the bit for better cutting, and polish the first 1-1/2" of the blade with a palm sander so there is no sticking. On my axe I replaced the factory handle with another one, as I don't like metal center wedges because they do not allow for cross wedges. I prefer to handle my own as I can get a superior fit to an assembly line approach. I let the wood stick out above the head about an 1/16"-1/8" as this gives extra flair at the top and helps to keep the head from slipping (like the Swedish axes). I properly fit the handle tight and use a wood wedge sized to the length of the eye and a bit short of the depth of the handle kerf. I also use epoxy on the handle, eye, and center wood wedge so every void in the eye and handle is completely filled. This goes a long way is keeping things tight. I use one steel cross wedge and place it so another can be added, if needed in later years. The handle should be oil-finished and waxed as it can be easily touched up later if dinged. An oil/wax finish is easier on the hands then varnish. I do use a lacquer on the ends to better seal out moisture. Additionally you can wrap the handle near the eye with Hockey stick tape. This tape is especially designed to withstand blows to the wood and adheres very well even in cold temps.
Or you can just buy a Wetterling or Gransfors Bruks. The GB is ready to go as is, but the Wetterling can benefit from a bit more thinning at the bit. There is a reason why these axes are more expensive--as they are hand-fitted as I described above.
The monetarily cheap route is to buy an old head and handle your own so you have good quality and little investment.