I went through this process about 10 years ago--went from a 50 lb. pack for a week's trip to 23-24 lbs. It can be done, without a lot of $$$, too. I never thought it was possible until I tried it. Note that I'm including my weights here as a comparison, not a prescription--there are no magic numbers.

It can't be done overnight (unless you have lots of $$$ to burn), but I'm sure we can get you down to half the weight you're carrying now--not all at once, but fairly soon.

Have you read the articles on the home page of this site, left hand column? Especially look at the 27-lb., 7-day Gear List, on which I modeled mine (not the specific brands/models, but for a general ballpark estimate on weight). At least it will give you something to compare to. Also, look at phat's sticky post in the "Backcountry Beginners" section. He has links to several gear lists. He's Canadian, though, so his weights are in grams.

Before you do anything else, make a simple spreadsheet listing each single item in your pack, grouped into "systems" as per the 27-lb. Gear List cited above, with the weight of each item. Probably your first investment, if you don't have one, should be a postage scale that weighs to the nearest 0.1 oz. A 5-lb. capacity should be fine; none of your individual items should weigh more than that. This list will not only give you something to compare to other, lighter lists but, when complete, will also give you a gear checklist you can print out for each trip. I don't dare pack without it--if I don't, I forget something important every time!

Although that's a horrendously heavy backpack (mine is 29 oz., and it is framed), I'd wait to replace it until you get your other gear weights reduced. You can easily carry lighter weight gear in a stouter pack, but if you try to carry heavy weight gear in a lightweight pack, you're going to be very uncomfortable. There's also the issue that lighter gear will probably be more compact, so you won't need as much pack volume--something you won't know until later. In the meantime, you can always do some butchery creative trimming to remove unnecessary frills and furbelows from the pack. You might be able to get rid of as much as a pound.

Items I'd look at right away that cost you little or nothing:

Ground tarp--leave it at home--even with a lightweight silnylon tent floor, I've never used or needed a ground tarp. If you must have one, look at cutting the appropriate size from a plastic painters drop cloth, for a fraction of the weight.

Utility bag and first aid--I'm sorry to be critical, but it appears that you are really packing your fears here--you could cut this down to about 6-8 oz. for the two. My combination first aid/utility is 10 oz. and that includes a 5-oz personal locator beacon. A class in Wilderness First Aid really helps, teaching you to improvise from what's on hand so you don't have to pack so much.

If you're planning to buy a new "crash" (sleeping??) pad, there are lighter versions that are comfortable and won't break the bank. I personally require an insulated air pad that's really thick, cushy, and warm, and mine is 19 oz. Admittedly, a good night's sleep is more precious than rubies (IMHO), and sleeping styles vary with the individual--Your Mileage May Vary.

9 oz. is heavy for a mug; I don't even take one but make tea in and drink out of my cooking pot. YMMV, of course. Either eliminate or get one half as heavy. Yes, I know that's only about 1/4 lb., but those ounces add up to pounds in no time!

Clothing: Although you omitted this item, that is the one place where almost everyone overpacks, bringing too many changes (I've been there, done that!). I take enough clothing that if I wear everything at once, it will keep me comfortably warm and dry (and I'm a cold person!) in the lowest temperature I can possibly expect (definitely lower than the "average" temp). The only "spare" clothing item I take is a spare pair of socks. I suggest you examine "clothing worn" and "clothing carried" together, to be sure you have enough but not too much.

Be sure to compare to the various gear lists I cited, not only to find out where you can cut back, but also to see what you left out. I don't, for example, see a light source or anything about water purification on your list. I presume you also want a spoon? Bug repellent? Hand santizer or soap? Toothbrush? Map and compass?

Sorry, but that stuff in your pockets/on your belt should be included in pack weight. It's your own feet and legs that you're cheating! So please add those back in!

Now for the items requiring money.

Since you should wait on the pack until last, I'd look at the tent next. Yours are really, really heavy. There are high quality shelters for half or less that weight. For contrast, I have a 34 oz. 2-person tent and a 27 oz. 1 1/2 person tent (I needed room for the dog, although he's no longer with me). (I also have a 17-oz. tent, but that was hideously expensive and I'm not sure I'm going to keep it.) Here are a few tents to research:

2 person: Tarptent Double Rainbow, Stratospire 2, or Double Moment. Six Moon Designs Lunar Duo.

Solo: Tarptent Notch, Stratospire 1, Moment, Rainbow, or Contrail. Six Moon Designs Skyscape Scout or Trekker (on sale right now). Also look at Lightheart Gear.

Note that if you don't use trekking poles, you can buy poles for these tents from their manufacturer for a couple ounces more.

For the sleeping bag, it depends on whether you want to switch to down and spend a lot of $$$. Do note that if you can afford the up-front cost, a high quality down bag will last a lifetime if well cared-for, while a synthetic bag will have lost a significant amount of its loft in 5 years. In other words, the initial cost spread over the lifetime of the bag is pretty much the same. Of course, if you don't have the up-front cost, for heaven's sake don't pay a fortune in credit card interest cost, just keep the present bag if it's adequate and start saving.

Just think--you could end up with 30 lbs. instead of 60+ lbs, and be a lot more comfortable! Even 40 will be a big improvement--you'll really notice the difference when you're on the trail!