If I am going as light as possible then a flannel does but that isn't often the case. I have micro towels in four sizes from flannel to bath towel and take the one appropriate for the trip; it's just the biggest that has reache the end of its life.
Like CP I use the flannel first but finish with a towel. When a Lifeventure towel is wet, I shake it a few times in the breeze, hang it over the bike, and it dries fine.
Thanks for the hep, and jokes, I'll take a look at the Pack towels.
Cheers