I think you've hit it, ben. There are two extremes here. Well, the extreme of heavy is an RV with Emeril Lagasse in a duffle bag, with the extreme of light being a canteen cup and plastic babyfood spoon, but...
BIG kits have their place, but it is largely restricted to people who have a support vehicle, or a big enough party to split the gear so one guy carries his socks, lunch, water and the kitchen. If I had the space in my pack, I'd probably be tempted to go with a bigger kit. Heck, I've got a 40 quart stock pot that I consider part of my bug in gear.
On the other end is small, fast and light gear. I've never planned on having a vehicle the entire way- that's plan A. Plan A is canceled by the need to bug out, plan B doesn't last very long either; plans C though Z4C involved using a pack. While I'm not an ultra lighter, I look at their gear because I'm to home base, if the stuff hits the fan, my plans involve me being on foot. Ounces hurt. I've never had the space for a bigger kit, and I'm not sure I'd ever want it as I'd rather have the cold weather gear in that space. or more water. Or a sherpa.
I used the set up I described and an ammo can that I turned into a mini BBQ to cook about 2/3s of meals one summer I lived in the dorm while working for the school. It works. And anyone who's seen me knows that I LIKE good food.