I won't know until I actually get my pack (a new 2011 model Osprey Kestrel 48 is on the way) and the rest of my stuff, but I estimate my base weight before food and water will be 12-15 lbs. I have tried to get it down, but with a 3.5 lb pack and 4.5 lbs of "hammock stuff" alone, I'm already at 8 lbs. Still have to add stove, cookware, utensils, first aid/safety, toiletries, small radio, camera, knife, .50 cal Desert Eagle (just kidding), book, headlamp, nightlight, water purifier (Sawyer One Point), etc.
I actually was really considering a ULA Circuit, but I am not sold on the comfort of ultralight packs yet. I think that industry is still maturing. Not to take away from the original topic at hand. Meh - it's only about a pound dif. anyway.