I threw intelligent budgeting out the window this year, and got exactly what I wanted for gear. You can thank me later, Visa.
I am deliberately not listing the price, since it hurts to think about it. That said, I'm really happy with all the gear listed, and I'm using it 3 nights a week.
Here's what I'd recommend for SUL:
Quilt: katabatic palisade or chisos 14.5 – 17.5 oz
Tarp: Zpacks Hexamid single or twin 6 oz ( Sleeps 2 and eliminates need for bivy)
Pack: MLD Burn 11oz
Pad: POE Elite AC 10-14 oz
Puffy: WM Hooded Flash
Cooking: Trail Designs Sidewinder with Evernew 1.3 Pot–6oz (you can go lighter for sure, but I like being able to cook for two)
Rain: North Face Triumph Anarak — 5.5 oz (I'd get a Montane Spektr at 7 oz if I were somewhere where it rained a lot)
Wind Pants– Montbell Dynamo 3oz (used for warmth, wind protection, and for sleep. I hike fast in shorts in the rain.)
Groundsheet: MLD Goodnight EVA Foam Pad (groundsheet/extra insulation/virtual pack frame) 3.2 oz
Shirt (worn): I/O bio contact glory (hooded and with thumbloops to replace hat and gloves) If it gets soaking wet, I wear the WM next to skin to bed)
I'm aiming for relative comfort and versatility with this list for 1 and 2 person trips, and depending on what else I bring it may or may not leave me under 5lbs, but I don't care.
If I were going really minimal, I'd replace the elite AC with a GG Torsolight, I'd get a zpacks zero, smaller cookset, etc.