From a weight savings standpoint I think there is very little low hanging fruit in the confines of the system. The belt can be lighter by 2-4 oz, the harness could be a bit lighter, you can lose a bit of webbing. But IMO you lose more capability than you gain in weight savings. There are much lighter packs out there, but what weights are they comfortable to?
You can strip some weight from the packs, but pretty soon you're cutting out stuff that make the packs work. Then you're left with an UL pack that is uncomfortable with more than 25 lbs and that suffers in the durability department. There are already a lot of packs in that space.
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