I'm not sure what Ultralight weight is. Last weekend I went for 2 days with a 28lb pack including 40 oz water. I could probably get to 26-27 lbs but why? I have everything I need and am comfortable. I can also cover ground at 2-3 mph at that weight depending on slope gradient. I really don't think saving a couple extra pounds is going to make me faster or able to hike farther.
Bill:
I think that we are in the same situation. When I add a couple quarts of water (4 lbs) and food for 3 days (3 lbs) them my pack probably weighs about the same as yours. Neither of us have made any real sacrifices to save weight. We both have spent the $$ to get good lightweight gear and we are carrying a light weight pack, but not ultralite.