Chris - Thanks. I carry a Rab Survival Zone (367g on PO scales) on day walks so the PHD should do me fine for that.
After some thinking, I'm kind of leaning towards two jackets:
1) Rab for Iceland, the Alps and day walks in Scotland.
2) Another lightweight one for backpacking with.
The Rab seems to be an easy choice because (corect me if I'm wrong) it's the warmest jacket around for it's weight and should be warm enough for most things.
My second jacket seems to be a choice between PHD, ME Lightline and WM Flight. Which of these was the warmest? I'm inclined to discount the ME because of it's weight so it really seems to be between the PHD and the WM.
PHD: 800+ fill power down, great reputation, reasonable availability,
15% off (just £116 without Drishell)
WM: Wow, how light? Snow RocK and where else? 750+ fill power down (UK rating)
Nick - The Rab is £160 from Trekmates!