What's in your saddle bag?

Over at the GreenvilleOnline.com Cycling Blog I told the story of my incident last night when I blew two tires in the space of 15 minutes. It lead me to rethink some of the things I carry in my saddle bag.

I thought it might be a neat thing to show a picture of the items I carry with me. Am I missing something? Any ideas of some ways to save weight or space?

I have a pretty small Specialized bag that hangs beneath my seat. All this stuff fits snugly inside. The weight is just over a pound.