I backpack to fly fish, mostly in the Golden Trout Wilderness. I try to carry the minimum of gear so as not to weigh down my old body. My fishing gear currently weighs in at 16 oz and consists of
1) One small foam fly box and Trico fishing pack to hold it and some nippers, hemastats, floatant and tippet spool
2) fly rod in protective plastic tube (light weight fluorescent light tube) and fly reel (Lamson Lightspeed) loaded with line to match the rod (Winston BIIt 8ft 3wt). The rod and case are tucked away securely inside my pack while hiking to help protect it.
So far my system is working well for me.