I own one of these and love it but it was the first thing I took out when I decided to lighten up my pack.
Believe it or not, the heaviest part of my pack is water and I can go with a lot less but I haul it just in case because I am normally out ~ 5-7 miles deep into the Montana wilderness.
One thing where I saved weight is in knives; I now carry Havalon Piranta-Bolt Hunting & Skinning Knife in Blaze Orange with refills.
In addition, I work out all year so I can deal with the extra weight I have to carry with me and get where my hunting buddy and I hunts. Last year, we hunted a gulch and it took us 3.5 hours to get to the top. Without year around conditioning, I would have not made it up there ... not getting any younger.