The langster is a very nice bike, I've got about 2000-2500 miles on mine, but if you want a track geometry and outstanding looks, go elsewhere, it's not the bike for you, and it WILL bug you if you lay down that much money for one. I love it, because I use it for commuting and long distance rides, it's comfy, and works well.
I agree, pedals need to be replaced, but isn't that with most box brand bikes? they put cheap stuff on because they expect that you will run your preferred pedal.
oh the lightweight thing. . . don't bother unless you feel like stripping everything off of it, and you said you wanted to put a rack on it? why do you need it to be lightweight at that point?