Reddit mentions of Neewer 4X Lens Case Lens Pouch Bag with Thick Protective Neoprene for DSLR Camera Lens (Fit for Canon, Nikon, Sony, Olympus, Panasonic) Includes: Small, Medium, Large, XL Size

I have also been struggling with similar issues. Being on a shoestring budget doesn't help either. When it comes to my camera gear I also prioritize having the right tools for the job over saving weight. In other areas I will compromise comfort or convenience in order to save some weight, but not when it comes to camera stuff. A sore body is temporary, but a good image lasts forever.

The big struggle for me was keeping everything organized and ready to use, protect it from the occasional bump, be modular/scalable, and most importantly keep the rain off while I'm hiking. And of course to do that with as little weight and bulk as possible.

This is a work in progress, but here's what I've got so far.

http://www.mindshiftgear.com/products/ultralight-camera-cover-10

This thing is great. It's lightly padded, but it's mostly a rain cover/holster. It comes with a waist strap, and can easily be slung above or below the belt of my backpack. With a little modification you could probably also change up the attachment points if you wanted.

It's very minimalist, but it works really well and it's incredibly light. It also makes it quick and easy to get your camera in and out on the fly, so it's great for a quick snapshot on the trail, or for those times when you need 3 hands. Really simple, but it does what I need it to do and does it well. So far I'm very happy with it.

So far I have found it comfortable to wear when hiking as well. The rain protection has been more than adequate so far, but it's also compact enough that in a long, heavy rain I can tuck it under my rain jacket and have a bit of extra protection.

It isn't large enough to keep a long telephoto attached, but I very rarely carry one of those while hiking so that's not a deal breaker for me. If necessary I just attach it, get the shot, and then switch back to my walking around lens.

As I mentioned, it is padded but only very lightly. Definitely not bomb proof, but it will protect against accidental bumps. Personally that's all I wanted, aside from the rain protection. So far the worst I've had is a fall from about shoulder height onto the forest floor. The camera was completely unharmed, though falling onto concrete or a hard floor might have been a different story. Hopefully I won't have to find out.

The weight on the website seems to be wrong. I weighed mine and it's 5.27 oz. I have the small, which is the right size for a mirror less.

You can also look into the Peak Design clip. I don't own one, but it gets recommended a lot. I considered it when I was comparison shopping. What bothered me about it is that it doesn't protect against rain. They to make a rain cover that is designed to go along with it, but I thought it looked more cumbersome than the mindshift gear cover, and slightly more expensive even without the clip. I also wanted to be able to carry my camera with or without my pack, which you could probably do with the capture clip but it's really designed more to be left attached in one location and left there. Still, your needs may vary, so I wanted to mention it.

My other gear I carry in a small 5.11 bag that I strap to my chest or to my waist, depending on what backpack I'm using. The nice thing about this is that I can detach it and just carry it separately as a camera bag. When I see a good scene I will usually drop my pack and want to just have my camera gear while I scout things out. I do not recommend he specific bag. It works well but it's very heavy. I'm hoping at some point I can find something lighter that will do the same job. It's also not waterproof, but I've managed to work around that. For now though, this is what I have, and it works.

For my lenses I use some cheapie neoprene lens pouches. So far they work well, and only weigh a couple oz each. They offer just enough padding, and a little bit of rain protection. I usually keep them inside my bag, so if some rain soaks through the bag my lenses will stay dry.
https://www.amazon.com/dp/B00KWRBICU/ref=cm_sw_r_cp_api_e6jMyb10ZMTH4
The lovely thing about these is that they're simple and versatile. I usually carry them inside my 5.11 bag, but they can also be attached to a belt fairly easily, or they have clips that can attach to whatever. This is one of those small features that I actually really like. When I'm changing lenses in the field I can clip the pouches to the outside of the bag, and it makes it a lot easier to juggle everything. It's probably not as slick as some of the fancy systems out there, but it's made it much quicker and easier to do lens changes. If it's raining, snowing, or my wife is waiting, I want to be able to get everything set up and broken down as quickly and easily as possible.

Oh, and they're dirt cheap. Like I said, I'm on a tight budget. And if they don't work out in the end, I haven't wasted a lot of money.

Still working on a way to carry the tripod. Right now I just strap it to my pack, which works fine, but then when I want to drop the pack I'm stuck with it in my hands. I might end up making a web sling or something.

I just carry my full sized tripod. This is mostly because I could only afford one decent tripod so I bought one that would do everything I needed. It's heavy, but I'm willing to spend a little weight in order to get the images I want. Some people go the other way and use a compact tripod, or even a gorilla pod or tabletop tripod instead. I used to use a tabletop, and if could get the job done but I found that I wasn't willing to accept the compromises. I don't want my composition to be limited by my tripod. Personal preference though. My tripod is just about he heaviest thing I carry, so it is a big trade off.

Hopefully it gives you some ideas. For me the biggest thing was nailing down exactly what I needed to be able to do, and then trying to find the most minimal way of accomplishing it without spending a bunch of money.