The kit used to have a much narrower pencil, but they ran out and couldn't find another supplier. Cutting it down might be a good idea. I wouldn't cut down the duct tape though, it's much too useful.

I ditched the fishing gear, and replaced it with a few small strike-anywhere matches in the little plastic vial, and tape it closed. I also add a photon micro-flashlight, a couple gerber bags, a couple micropur tablets with the foil pack cut down to a minimum and mashed, and a $20 bill.