The 10/22 is a compact carbine even in its standard configuration, and even more so with a 16-inch barrel, but until recently, if you wanted to conceal it completely inside the average backpack or bug-out bag, you needed to either fit a bulky and somewhat heavier aftermarket folding stock, or take the receiver out of the stock as I described in the above-mentioned post. I've carried the 10/22 both ways on various wilderness trips. Folding stocks such as the Butler Creek model I used completely change the balance and feel of the weapon, and add a lot of bulk inside the pack when folded. Taking the standard rifle apart works, but does entail some risk of losing internal parts if you're not careful, and takes a lot more time than simply folding a stock.
The new take-down version of the 10/22 brings a whole new reason to choose this weapon, as you can now have one of the best semi-auto .22 carbines in existence with the packability of other take-down models such as the Marlin Papoose and Henry AR-7.
Here's a video introduction to this new 10/22 model that shows just how easily it can be taken apart and put back together:
For serious packing of a bug-out bag, I would certainly lose the bulky, fitted backpack it comes with, though this may be a handy way to carry it in other situations such as in a vehicle or boat. I haven't picked up one of these yet, but for $300 I probably will and look forward to comparing it to my other 10/22 rifles.