There's a good number of nice iPad stands—most recently Twelve South's Compass—but at some point you have to ask yourself how much stand is too much. The PadFoot does the job and stays out of the way.
Produced by Michiel Cornelissen, the minimalist maverick behind the Pod à porter iPod Nano necklace, the PadFoot is a single piece of 3D printed polyamide that weighs only 15 grams. But it'll still stand your iPad proudly in portrait or landscape, or provide a bit of crucial leverage if you're typing on a flat surface.
I'm not sure how sturdy the single foot design will be—Cornelissen says it should be used on a totally flat surface, so it might not be ideal for that bedtime Hulu sesh—but if you're looking for a simple, lightweight stand to toss in your bag, you can buy the PadFoot through Shapeways for about $30. [Shapeways via michielcornelissen]