Carbon Fiber Leather Wallet
If you want a light wallet that's durable, this might be a good choice. The 3K Carbon Fiber & Leather Wallet has two carbon fiber panels on the outside of a leather wallet.
I just noticed it mentioned in this Wired Blog Network post. The carbon fiber panels should make the wallet more durable, but the post made it sound like it may not be too useful:
it does seem rather pointless as anything other than a style statement
The cost at CFG Direct is about $50, so I hope the carbon fiber panels do more than just make a style statement.