I'm in staehp1's camp, literally and figuratively. I think I went through about the same process of getting to where my entire packed load, in two panniers, weighs less than the trailer you're looking at, and I've never been more comfortable since I'm not totally wiped out at the end of a day of cycling. And it's often a simple matter to cycle another ten miles or so to get to a better place to camp if you don't like the first place you picked, or the weather's really awful and you decided to go to the next town for a motel, or the warmshowers.org host who offered to put you up is a really long day away, etc.

One question to ask is, "Am I packing for a camping trip, or a bicycling trip?" If the answer is the former, heck, load it up! And there's nothing wrong with that.