My current pack, while in almost new condition, weighs in at a whopping 7 pounds 4 ounces while the ULA catalyst I'm looking to replace it with weighs in at 3 pounds.
My sleeping bag was 4 pounds 3 ounces while the enlightened equipment Revelation is a mere 1 pound 8 ounces in a long, wide, format with the more water resistant fabric.
My tent is 4 pounds 1 ounce with ground cover. I haven't figured out what I'm going to replace this with yet (as this makeover has blown my hiking budget for the next couple years
) but I'll get something around 2 pounds.15 pounds 8 ounces vs 6 pounds 8 ounces. I get to drop more weight than a gallon of water!
Next I went through item by item and knocked out another 8 pounds of items I didn't think I really needed. This was my favorite weight savings as it was free of charge
Now I'm looking at what can be cheaply upgraded to knock off more weight. The last big savings (and perhaps most expensive) will come from clothes. I have a total of 6.85 pounds of clothing but I'm not sure what I'd eliminate. I plan to slowly replace my hiking clothes with lighter versions. I'll probably never make it into true ultralight territory but I like the less weight, hike farther concept 
I hike in less popular areas that are very neglected so I carry a midsized saw and a machete to clean them up a bit as I go. That adds about 3 pounds I can easily ditch on more popular trails. As a percentage, my no food/water pack weight is now close to 10% of my body weight so that seems reasonable to me.