32 is on the hefty side. Does that include racks? Most of the decent mtbs from that time were 30 pounds. Shedding weight from there was relatively easy.
The Panaracers are on the heavy side for that size tire. The Panaracer High Road V weighs in at 607 grams each. Same size Nashbar Streetwise weighs 430 grams and the Nashbar 1.25 inch slicks weigh 346 grams each.