I like having some basic comforts and flexible tools. I know I could get by without my 4 oz shovel or a small pillow, but they're good to have.
Other than that, yeah, minimal is the way to go. A tiny tent with as light a sleeping bag as I can get away with, and everything as small as I can get it. Paracord is fine instead of a length of heavier rope. Then leave all the frills behind.
In warm weather, I can overnight with under 20 pounds of stuff (including the pack itself, as well as all my food and 3L of water). Cold weather adds another couple of pounds for heavier clothing. I could trim a few pounds out of what I carry, but I'm comfortable with extra ways to start fires, more first aid gear than I tend to need, an extra flashlight, and similar extravagances.