I had one of these for the AZT in 06 I destroyed it the first time I used it (they claim to be 30% stronger now).
I am not a big fan of space blankets as they are not breathable and you end up wet.
I can see a use for them as a safety item for long days but I wouldn't want to use one much.
With a synthetic you should be fine as the bag is still going to keep you warm even if you are soaked in your own sweat.
Lately I have been using down bags and I like to keep dry. I used to use an REI bivy sack with a small tarp for over my head. Then a poncho replaced the tarp but now I have one of these
http://www.seatosummit.com/products/display/61 it is small when stuffed but makes a good sized shelter (not the two person they say but one for sure) I think i can stay dry under it so I dropped the bivy. I took it on the Coco 250 but never did need it so I can't say for sure yet how it will do in a rain. Hopefully we will get some rain soon (we always need it) and I can set it up near the house and see how it does.