Recommend me a travel camcorder tripod

Still putting my shopping list together, and want to get a tripod.

I really dont have very much to spend on this at the moment, but want to get something to get me going and maybe upgrade later.

It has to be light and fold up very small. I have seen some that go as small as around 12 inches, which would be great.

Any pointers?

Found somewhere selling the Velbon CX-480 for the equivalent of about $33.

Not quite as compact as I wanted, but seems to be the cheapest fluid head I can find.