Vintage MTB overhaul vs New Gravel Bike quandry

[retropean]

I purchased a Panasonic Mountaincat from a member on here.

It's in great condition (though had been sitting a while). With all the talk on Gravel Bikes just being old rigid hybrids/mountain bikes I figured I could get in on the action. So I refreshed some of the cables and chain, and strapped my old panniers to it and took it on the C&O canal.

My findings:
-I was shocked at how heavy it was. I did not weigh it, but when fallen trees blocked the path, I struggled to lift it (with panniers).
-The stock handlebars suck for a 100 mile ride. It took like 2 weeks for my hands to feel normal again. I realize this is some stupidity on my part for riding this far as a maiden voyage... but yeah. They need to change. So I was thinking a drop bar conversion.

I want to go on more bikepacking adventures. Some would involve shipping or flying with my bike. My plan was to ditch the panniers and get frame/seat bags.

I guess my questions are:
-Is the search for losing weight on this thing a lost cause because of the luggage involved in bikepacking? My gear is somewhat lightweight but with food and water it's always going to be heavier than what I set out with on a road bike.
-Is it worth it just starting with something new? Part of this started as a "you can have fun, cheap, with a vintage MTB" but at some point dropping a ton of money on this is going to be much less cost effective than starting from scratch. I had my eyes on the Ibis Hakka MX, or Ritchey Outback.

pic for clicks

Originally Posted by gdw

What kind of touring are you planning to do? Pavement and gravel/dirt roads... any singletrack? How many days will your average trip last? Will you be camping, credit card touring, a bit of both? If you're camping is your gear light weight and low bulk/volume. The answers you provide will make it easier for us to help determine whether your current bike or a new one suits your needs.

Gravel dirt road, couldn’t do single track with panniers but it’s the sort of thing I’d love to hit if I was in the neighborhood. Average trip probably 2 days but some 5 days in there with resupplies. Camping. I buy “ultralight” hiking gear when I need new stuff but run my old heavier gear when I can.