I used a tent and backpack (Zpack) made from the stuff this year when I hiked the John Muir Trail in the sierras. I was happy with it for saving weight for backpacking. It's tough, but not indestructible. I had no issues though. It seems to fold up pretty stiff. Or maybe it's just a weird perception of holding a wad of material and it's so light in hand.

But I'd go with CCS tarps for canoe tripping. I don't think the weight issue is so great to justify the cost. So many cheaper ways to save that much weight if you look at your whole kit.