If budget isn't an issue, I'd recommend the Gitzo GT1541T. It's possibly the smallest, lightest and sturdiest travel tripod. It fits into a 19" bag with room to spare. Match that with an Acratech GP Ballhead with gimbal feature and you're set. I carry this up hills and the weight isn't toooo bad.
Otherwise, Manfrotto's BeFree is a good bet. Not as sturdy as the Gitzo but still good for the money.
Unfortunately, budget is an issue. My understanding is that Gitzo is THE ONE, but that comes at a price. I didn't like the BeeFree head neither the leg locking system. What set it apart is the weight, almost 50% lighter than anything else out there.
Carbon fiber is not really all that much lighter than aluminum but it absorbs vibrations better (wood does that too but it is heavier).
In practice, for most users and situations, the difference is price is huge while the gain in performance is very small.
This is my thought as well, is the carbon versions truly worth it? I reason with myself that since I hike a lot, weight actually is a good reason to go for a carbon version.
I find that both the Sirui T-2205X and the BeFree are more of less similar in rigidity and stability. The Sirui feels more solid due to it's heavier weight and shorter stature compared to BeFree. The only real difference apart from the height and weight is actually in practical use. While I love the function of Befree, I find that the way the legs are deployed is a bit cumbersome, especially in tighter spots. The Sirui is much quicker in this respect as it's twist lock.
I'm so lucky that I now barrow a Sirui N-2205X, which is a little heavier and bigger than the T-2205X, but if the build quality is identical then I think I'll opt for the Sirui tripod.
The BeeFree is scary small, it's so small that I don't understand how it could practically work as an all-round hiking tripod
The smallest breeze should tip it over, and without any hooks on the center column theres no way to anchor it more either.
I will test the Sirui N-2205X during this weekend. It's a little heavier than I would prefer (approx. 1.7kg), but its very compact in its case.