Since I was unable to gather the information I wanted online, I turned to my trusty mom friends on Facebook. Here is the summary of the advice.
1. The Pack n' Play is much too large to take to Europe. We have the Grayco travel play yard - which is the lightest of the series, but it's still quite bulky. Many moms were concerned that it would be too large when opened for many of Europe's small B&B's.
2. The Baby Bijorn is the top-rated travel crib by Baby Bargains and a few other sites. While it comes in around 11 lbs, it folds up like another suitcase. It is bound to take up valuable room in our rental car and other forms of transportation we may need to use.v
3. Kids either love or hate the PeaPod - and it may have some recall issues. I'm currently trying to get my hands on one to try it out and see how Baby Peach does with it. It is certainly the lightest of the options, but may not curtail my active kid.
4. Jury is still out on the Phil &Ted's travel cot. I found one person who has used it, and a bunch of mixed reviews on Amazon.
5. The best suggestion, though, is going to be our back-up plan. If all else fails, train the baby to sleep in the bed with us before the trip. It's the cheapest of the options.
I was able to procure the Phil & Teds travel cot, and I think it's our big winner. Although the official dimensions are the same as our travel pack n' play, it is quite smaller and much lighter. (See Comparison Photos) When packed into its bag, it will easily fit into our rolling duffel. The online reviews say it's hard to put together, but I had no trouble. I had no directions and it took me about 20 min. Now that I've seen it together once, I'll be able to do it in 5min.
I'll have to get back to you on how Little peach likes sleeping in it, but he has enjoyed playing in it. It has a side and top zipper, so I will be able to zip him completely into the bed.
*Update 2/23/12* So far Little Peach is a fan of the Phil and Teds Sleeper. I bought mine used, but just found this one on Zulily today.
Take a look at this phil&teds Black Traveller on Zulily.com today - it will be there till Wednesday (while supplies last!)