I can see the appeal of the tarp, having done a few nights sleeping under the stars, and also appreciate the claustrophobia that goes with lightweight one man tents. However a well made tent in a storm is going to be a lot cosier (IMO) than a tarp and bivvy.
A decent tent can be pitched anywhere thats flat and offer good protection in foul weather, the tarp option requires more selective pitching choices in foul weather.
IMO if you know the weather will be ok then go for the tarp option, if not, take a lightweight 2 man tent assuming weight / cost can be afforded. If uncertasin…. 1 man tent? HTH
I use a one man tent as thats what I’ve got and will continue to use as I’m a skin-flint and have limited storage space – i’ve spent my money and will make it work for me 8)
Seriously, to get the best compromise costs a lot of money as we’re talking about very specialist stuff. Do you want lite, spacious, protective, cheap? pick 2