I'm not an ultralight freak, but I did travel light enough. There was extra room in the panniers to fit about one, maybe two, folding tires. This list excludes the items I wore on me: Ascent M12 helmet (alternated with visor cap), Nashbar bike shorts,
Columbia regular shorts over bike shorts, Mountain Hardwear Canyon shirt, $10 plastic sunglasses, and regular Bass leather sandals. The total weight of bike and equipment without food, fuel, and water was approximately 50 lbs with the bike
weighing around 27-28 lbs. I have a more thorough description of some of the gear here.
Nashbar adjustible rear rack
Integral Designs MK1-XL 4-season 2-man single wall freestanding tent (bungied to rack platform)
REI storage sack for food (bungied to rack platform; can hold many days worth of food when necessary)
2 Polar insulated wattle bottles (should have used lighter regular water bottles)
Mt. Zefal mini double shot pump
Extra 26" tube wrapped around seatpost (should have purchased a lightweight tube)
2 Profile plastic water bottle cages
Pack Towel
Solar charger that can charge both AA and AAA
Bell mirror
Bell rear light
Two spokes duck taped to chainstay
4 bungee cords
Cable lock with key wrapped around headtube and handlebar (stored extra key inside the saddle bag)
Mountain Hardwear nylon visor cap
Specialized saddle bag
Rhode Gear bicycle tool
Plastic tire remover
Park Tools glueless patch kit
Chain breaker
Presta to Shraeder converter
4 oz bottle of chain lube
Craftsman double ended wrench 10mm and 11mm
Nashbar 2400 cubic inches rear panniers
Mountainsmith Vision 20F sleeping bag
Therm-a-Rest Prolite 3 full length with repair kit
Katadyn mini water filter
Fujifilm 2.1 megapixel camera (4 AA batteries)
Coleman Apex Peak 1 multifuel stove with 16 oz fuel bottle
Evernew titanium pot (stove fits into it)
Plastic spoon
Bic lighter
Suntan lotion tube
16 oz bottle contact solution
8.5 oz bottle of Listerine
2.5-litre Platypus collapsable bottle
.5-litre Platypus collapsable bottle
Rio Cali mp3 player
Princeton Teac headlamp
2 extra AAA rechargeable batteries (mp3 player, headlamp, and rear light all ran on AAA)
REI bag containing miscellenous small items such as prescription glasses, toothpaste, toothbrush, floss, spare contacts, asprin, bandages, seamgrip, aqua mira water treatment
Compression bag for clothes (doubles as pillow and holds small sewing kit)
Extra bike shorts that were thrown away during the first week because they fell apart
Jogging tights
The North Face Lightspeed gore-tex jacket
Marmot Precip rainpaints (wore once to do laundry)
2 pairs of polyester ankle high socks (never wore them, but should have for sun protection)
Polyester T-shirt
Polyester longsleeve shirt
Lightweight gloves I purchased in Japan when I walked across that country