Photos in bad weather - how do you do it?

Given that Tasmania has been known to have a little tiny bit of inclement weather
I was wondering what approach people take to taking photos in dodgy conditions.
I've considered taking a small umbrella and trying to juggle that and a camera to get some wet weather shots, but I haven't tried it yet. I've also thought about taking a lightweight tarp that can be quickly set up as a temporary shelter for taking photos. Has anybody tried anything like this? Or do people just put their expensive cameras away when the weather turns nasty and leave the photos for fine conditions?
I know there are a couple of weatherproof cameras out there (Pentax Optio W60; Panasonic Lumic DMC-FT1; ...) but I can't really justify buying a fairly average camera just for the weatherproofness(?) of it. But maybe for bushwalking in poor weather that's a good option.
Thoughts anybody?
Alliecat

I've considered taking a small umbrella and trying to juggle that and a camera to get some wet weather shots, but I haven't tried it yet. I've also thought about taking a lightweight tarp that can be quickly set up as a temporary shelter for taking photos. Has anybody tried anything like this? Or do people just put their expensive cameras away when the weather turns nasty and leave the photos for fine conditions?
I know there are a couple of weatherproof cameras out there (Pentax Optio W60; Panasonic Lumic DMC-FT1; ...) but I can't really justify buying a fairly average camera just for the weatherproofness(?) of it. But maybe for bushwalking in poor weather that's a good option.
Thoughts anybody?
Alliecat