Actually, getting it down to just the burner and control valve gets you to 5.7 ounces. At that weight I'd be tempted to choose it over a Pocket Rocket/Snowpeak stove because I prefer the remote canister and the lighter/recyclable canisters.
But, 5.7 ounces includes no stand setup at all and it's a pain to get the cartridges on.
How you add weight back to gain these functions is up to you. I've used a Pocket Rocket 3-leg stand inverted as a stand and it works great - adds an ounce or so. Using tent stakes or a mesh stand that can hold the pot would keep the weight just under 7 ounces.
I'm not a big fan of that setup, though, so I'm working on other ideas. Something that could support the burner and a pot that weighs an ounce or less would be perfect. Very, very possible - I just haven't put the time into figuring it out yet.
By the way, not sure who mentioned it about cartridges in cold, but the Coleman Powermax setup should NOT be considered the same as regular cartridges. It's a different setup altogether. Cut one of these canisters open and there's a metal (brass?) tube inside that runs the length of the cartridge. Not only does this allow liquid fuel to be drawn, but it gets every last drop out of the canister. Empty canisters from use weigh the same as empty canisters that have been punctured and drained.
If Coleman would come up with a F1 Ultralight style stove that used the Powermax system, I'd be first in line to get one.