My kids and I made some of these from a kit from YAMA Mountain Gear. It was fun and a great introduction to this fascinating material. Cuben fiber fabric is very strong, waterproof and incredibly light. Don't know about abrasion resistance, but it strikes me as this would be perhaps its only weakness.
I would be interested in trying to make a bivy or small shelter out of cuben fiber.
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Thread: Cuben fiber stuff sacks