Let me preface this with the fact that I move much faster then your average hiker, so the amount of water I carry can get me pretty far. So the times and distances may be off a bit for some folks, but I'll chime in on what works for me.
First of all, the steripen has changed my hiking/running life! For real! This is a super lightweight filter than is better than most conventional bulky models, weighs next to nothing, and is quicker than anything out there.
http://www.steripen....adventurer-opti (EDIT - link for exact steripen to buy if you're so inclined!)
About $100 for the filter.
So I carry the steripen, and one 20 oz handheld Ultimate Direction Fastdraw Plus (+/- $20)
http://www.ultimated...&page=handhelds
So with one handheld, the steripen and 20 oz of gel in my gel flasks, I can go 40 miles with nothing more, stopping as needed to dip in a stream or river (fast moving, white water, etc - usually)
Most are right, water is dead weight. Even if you didn't feel comfortable carrying just 20 oz on you, you can carry a liter in your pack, and, with a little planning, filter when you know you wont be near a water source for some time. Judge the need with how fast you're moving, how much water you'll need for the next leg, and the availability of water sources on the hike. If I know there wont be water for some time I'll either plan ahead and bring a second handheld bottle for that section of the run, or I'll filter, chug one bottle full, filter again and get a move on to the next water source, where I'll chug another full bottle before filling back up and moving on again. You can manage your hydration almost perfectly with this system, and you aren't weighed down with a pack full of water... so you are able to move quicker, and hence remove an element of danger from some aspects of hiking (being above treeline with an approaching storm - prolong fatigue - cover more miles to see more - etc..).
I've been using the stripen for over a year, and I can't believe I survived this long without it!
Edited by smudge, 07 June 2010 - 09:40 PM.