You got a nice pad. Try it out, go easy on it, and if you really don't like it, you can still take it back.
There are 'always' lighter options out there, sometimes cheaper. Example: the typical blue CCF (closed cell foam) pad weighs 7.5oz (according to REI) and is cheaper (Walmart), but its R-Value (how well it insulates, essentially) is much lower at 1.4, compared to your REI LC at 3.2. So there are trade-offs.

If you're only going to be doing summer backpacking in warm weather at lower elevations, a blue CCF pad may be the way to go if money is tight (considering how it "packs" is a different story - it's bulky, obviously). If you'll be camping in Spring and Fall, try the pad you have and if you like it, keep it; don't be afraid to try other pads, though, too. I've tried several looking for a 3-season pad.

For 3-season backpacking I'm now using a Prolite Plus "Short." It keeps me warm and packs down nicely. It's shorter, so it's also lighter (it's 17oz, 47", R3.8). I put my empty pack under my feet at night to compensate; it also doubles as my pack frame when I pack things inside it, as I use a frameless pack most of the time. I tired a few other lighter options at varying costs but like the Prolite the best, so far.
For winter I don't mind the bulk of an Downmat Exped 9; it's heavy, but warm and I can actually use that as my pack's frame, too. So, there are certainly trade offs.

Lighter is good as a general rule, but sometimes we go lighter so we can take along a few luxuries. Sleeping well is important!