Updated List:

PLB and Sat phone w/ 3 batteries (split between riders)
Current paper trail map and compass.
GPS with trail map
MSR Dragon fly stove and small largest msr fuel bottle.
Minimal utensils (cooking pan/pot).
About three meals of mountain house-type pack food.
Windproof matches
Regular matches
flint, steel, dryer lint, magnesium chips, permalog type emergency tinder balls..
Pocket knife
Aircraft duct tape and foil tape
small foldable shovel
15' tow strap
signal laser (red)
-------------------------
Water bottle
Multi-tool
60ft nylon rope
energy bars, peanut butter, jerky and cheese
LED flashlight and headlamp.
toilet paper
tarp for wind break, roof shelter.
whistle
10 ft tubing for siphoning gas.
-------------------------
Hotronics M4 foot warmers (these are wicked awesome - forgot to mention these previously).
Chemical heat packs
pfak
folding saw
vaccuum flask for water.

Not much room for a sleeping bag and tent. Any recommendations for emergency/survival shelter?