Gorillapod - cool idea, poor result.
If you want compact at the minimum go for an Ultrapod #2 - still not *really* enough for even a Leica M /Fuji X100 size camera, but totally fine for any pocketable P&S.
On the note of how inadequate the ultrapod 2 is:
I have put a Nikon F4 and a 28mm lens on an Ultrapod, but it was far from optimal....
I have also put the Leica M3 with a 28mm pancake on the ultrapod2, which was right around my comfort level - note no real lens to speak of!
Pillar of scociety by Lord Nikon 12, on Flickr
Locks on the bridge by Lord Nikon 12, on Flickr
^^ 2 pictures taken with Leica M3 and 28mm pihole lens. Exposure time was about 1min30sec
I am soon getting a 50mm 4x5" camera. Do I loves me some wide angles? Ooh yea.