I always put my travel tripod in checked baggage. Tripods made for travel fold down to 15" or so, weigh 4 lbs or less, and are plenty protected by my clothes. I haven't ever heard of anyone getting one stolen from baggage, but I'm sure it has happened.
I have used MeFoto and 3LT travel tripods. A travel tripod is never going to match up to one's "regular" tripod, but I found using one a good opportunity to bone up on tripod technique, one of the most neglected camera skills. Being careful to use the proper feet (spiked or rubber) for the terrain, choosing a good, solid spot to set up, mounting the camera correctly (I see so many people who neglect to have the lens extension over a leg), making sure all the knobs are tight, using a remote release or timer, detaching the dangling strap, shielding from the wind or adding weight, and waiting for vibrations to stop - all these have more impact on your final shot than having the ritziest tripod. Any tripod is better than the alternative.
Taking my travel pod out on a shoot before the trip makes operating it smoother on the trip.