I like the idea of the FUBAR and think the possible uses make up for the weight.
Defensive weapon, pry bar, smasher of things in general, hammer, head whacker... worth the weight to me.
I will add that to the small trowel, Woodsmans Pal, Leatherman Wave, and issue pocketknife that are already in my kit. I'm on the lookout for a good folding saw atm. Better to have the stuff and not need it... besides, you can always toss stuff if not needed.
I'm just not real big on bottles of water. Two Camelback bladders and a filter seem to work for me.
Oh yeah, Jellybellys. Gotta have some of those.