Karl, you didn't ask me, but what I usually take too many of is clothes. I'm getting down (after 13 years of touring) to nothing but underwear, socks, and t-shirts, plus one pair of the nylon hiking pants with the zip-off legs. If cold weather is a possibility or likely, I'll take one pair of jeans instead of the nylon pants and one or two long-sleeved t-shirts and my fleece jacket. I've always got my heated jacket liner and a couple of glove options.
I need to get more rigourous about cutting down on tools. They're not so bulky, but I could probably shed 3-4 pounds if I took what I really might use.