You do not have to go without a pad to be lighter than what you have. If you do not need a lot of insulation the Pro-Lite series work for me. My x-small is only 8 oz. I think the large is even under one pound. There are lighter pads out there, but the Pro-Lite pads do not cost an arm and leg like the others (REI price is around $70). So if $$ count, this may be the best option. New tents and sleeping bags can get very expensive.

If on the other hand, your tent is worn to the point of needing to be replaced anyway, then I would do that. You should easily be able to get a tent in the 3 pound or under range. Tents go on sale a lot. Keep looking and I bet you can get one for at least 30% off within the next few months.