That IS a heavy bike--I used to have one, and my wife and adult daughter still do. The question is, how much money are you willing to put into it for a pretty small gain? Sticking carbon fiber or titanium components on it will lighten the package, but you can spend a lot of money and it's still going to weigh quite a bit. Lighter tires will be noticeable on the road if that's where you ride it most, but they'll hurt the offroad performance if you use it that way (if not, you should have bought a road bike to start with). If I were you, I'd ride it as it is, get in shape and save my money for a better bike in a year or so. You can make SOME difference in it, but you can't make it something it isn't.