You are spot on, Peter.
In my time, I've trekked all over the Lake District, Peak District and Scottish Highlands with an 80 litre rucksack, tent and camera gear and thought little of it. Now I'm older, my knees are shot to hell and I'm a lot heavier, I fully intend to travel light, too.
If it won't fit in my small bag, it's staying at home. The company of fellow FW'ers will make the day as much as the photography.