We dragged a tripod around with us when we were on our Oz/NZ trip - mainly cos we knew we would want to photograph & video the fireworks in Sydney on NYE - but it was something we debated when your constrained for space with packing it does take up precious space! Havent watched the tapes back yet so cant comment on the results to see if it was worth it!
I did a trial packing and included everything I really wanted to bring, not just the essentials. Heavy items include a 3lb-6oz Giottos convertible monopod, ceramic water filter, 3 volumes of Lonely Planet (each 800-900 pages), magnesium alloy digicam, cell phone and chargers. Total weight came to 38 pounds, which doesn't include snacks and water. I walked 2.5 miles and the pack's construction and suspension handled the load just fine but I don't like 38 pounds, which is close to what I usually carry when backpacking in complete wilderness.
Some revision is due as I'm aiming for 30 pounds total weight.