meh--mine is 21 pounds fully built, and I don't have light components. at all. Seems pretty on par with what people were saying in the "how heavy is your bike" thread.

as for price, I think Bicycle Station is selling the frame and fork for $250.

It's not difficult to build a 19 pound IRO Mark V. Lighter frame, same price. Slightly more relaxed geometry.

If you want a good example of a pake, check hyperrevue's signatured. His has the bikeworks fork on it, and looks quite classy.

Clarifying, I like my Pake. For my application, daily commuting and occasional exercise, it makes the right trade-off's between performance and resilience. I'm not the kind of rider who can detect an extra pound on the frame, and I don't want to worry about the top tube creasing if the wind blows on the bike while it's chained to the rack.