So I'd be interested to hear about product improvements since my Dad dragged my Mom and 2 sisters 20 miles into the North Cascades 50 years ago (with home-made canvas packs).
Packs, tents, sleeping bags, sleeping pads, and stoves have all gotten significantly smaller and lighter. To take but one example, it's possible to get a very weatherproof and roomy (but not bug proof) two person shelter that weights in at about 1.2 lbs and packs down to the size of a Nalgene or less. They retail for north of $700, but if you do much overnight camping and minimizing weight-induced suffering is a priority then it'd you'll probably end up valuing at least as much as any $700+ fly rod.
I've gone the other direction and do most of my overnight camping on family trips where I carry all of the gear on a car or a raft these days, so weight isn't at the top of the list when it comes to evaluating gear, but if I ever start cranking out the mileage in the backcountry again I'll have no problem paying a steep price to keep my pack weight down.