Thanks to all for your thoughts. They really got me thinking. First, I see now there are at least two different approaches (or strategies or even philosophies) on choosing light gear:

Method 1, which was my path, entails looking at each item that needs to be carried and selecting one that lowers weight/volume while optimizing the other key parameters (e.g. price and the relevant capabilities). When all the items are purchased, they would be weighed, their volume assessed and the appropriate pack chosen. This follows the 'purchase the pack last' advice.

Method 2 is the polar opposite. Here, a volume/weight target is chosen and each item is selected such that the loaded pack, as a whole, can meet the target.

Lori's 25# pack sounds amazing. I can just imagine how much more energy I would have at camp with that weight pack (or how many more miles I could hike). But, if I follow method 1 I doubt there's any chance I'd get there. Still, method 2 sounds quite expensive and very time consuming.

As for REI, well yes I do like that store. First, they have several local storefronts where I can actually try out equipment. Second, their 'no questions asked' refund policy is just amazing. And, it's something I've taken advantage of quite often. Third, their online store is well stocked. They often have free shipping deals and any item ordered online can be refunded at a local store. Finally, the folks who work there (at least all the ones I've spoken with) are knowledgeable, outdoors enthusiast themselves and generally seem to be happy to be working there. Still, as I start digging in I see now a whole cottage industry supporting the light backpacking equipment world. In fact, I found a local supplier (Six Moon Designs) who make an incredible sub pound tent (1.5 pounds less than the MH tent I list above)! Yes, surely a Method 2 approach will rely on these types of suppliers.

I suppose I have some more thinking to do - and if I convert to a Method 2 approach I'll need to fire up my spreadsheet and pull out my postal scale!