My walk to the nearest grocery store (which has a bank/ATM inside) is about an hour round trip, mostly up/down-hill, very little flat. It's actually not a bad work-out if I keep the pace up. Normally I do that walk with pocket carry (wallet, cellphone, SAK and other small stuff), but could easily take my Camelbak Mule to carry water and other gear. The Mule has a relatively flat profile so some compromise is required. While the pack has a 100 oz bladder, I prefer to not use that for short walks and instead carry my 22 oz Ti bottle and/or a couple 1/2 liter plastic bottles and a .4 liter MSR Ti cup.

I won't be carrying the list that Hikermor carries, but as I type the CB Mule has a BM Griptilian folder, Bic lighter, FAK, spare socks, headlamp, water bottle, Ti cup and multi-tool. Next time I take that walk I'll carry the pack and see if there's a benefit besides being equipped. The pack could extend my walk considerably or it could just slow me down. That's the trade-off.