Environment matters, so for me in the sub-tropics I need a bigger tarp than might otherwise be needed since the rainfall might be quite extreme, and coverage would be king. I like sil-nylon and sil-poly, it's becoming more common, and polyester doesn't absorb water and go slack like nylon, but it also has almost no give, so getting a taut tarp without tearing takes some care, but in my experience, it will be more fluttery. Reflective sheets are good, but they are good conductors, so you need to create that air space and that is tough. I've not done any real testing, but it seems like a big trash bag is almost as good, simply by blocking the wind. To me, heatsheets/ space blankets are a first-aid/ survival item, where as tarps and ultralight bivy bags (even the sea-to-summit fleece bag liners are not too bad, if a bit ambitious on their ratings) are more of a "planned survival" item, and should be included with consideration for location, rather than carried "just because" since the environment can greatly impact the selection, and so you would want to be getting the most bang for your carried oz.