How tall are you? What size jeans do you wear? Contrary to what CL says, one size does not fit all. If you are >5'10", you are probably going to feel cramped on this bike.
And yes, this bike will have a good 4lbs on some of the upper-grade Schwinns from the same time period. Just weighed my '85 Traveler against my '82 Voyageur.