Well, I have NO IDEA what conditions are like on that trail segment at the moment, but I doubt it is severe. So, after just a cursory review...
Yes, a 30 oz shell seems a bit overkill for mid July. If the weather gets that bad move downhill and pitch camp. A light rainshell can weigh 8oz. Or just a windshell treated with DWR for 4 oz. Then just layer that with the Thermawrap if needed. Some people will say to use a poncho (I just read Gary's post, and they can be handy for all the reasons he mentions), but many people find them uncomfortable and think that they are best used on short trips. Unless you are a fanatic like me and use a poncho-tarp as raingear AND shelter. But this all costs $, and I understand that you hike with what you have... And I can't imagine that you need more insulation than a base layer, Thermawrap, and shell, unless you plan to do a lot of sitting still into the late evening. Far better to hike until bedtime, then dive into your bag...
Likewise, the 40oz 15-degree bag is a bit too much. But you have mentioned that you are aware of this, and you got it as a gift and, I assume, aren't ready to shed $500 on an Arc Alpinist even if it saves you a pound. :o) Actually, you could probably get away with less bag than the Arc Alpinist- it's just a decent all-purpose three-season option. The *average* nightly low in Leadville, Colorado (10,000 feet) in July and August is only 40 degrees, after all, and I doubt you'll hit worse in Oregon. My all-purpose mountain bag is 32-degree rated and 26oz.
The Jetboil is a lot of stove, too. They aren't terribly popular among BPL users. A Pocket Rocket only weighs 3 oz or so and isn't THAT much less efficient than the Jetboil. Use a piece of double-folded aluminum foil or aluminum flashing for a windscreen. If you go really long between resupplies the Jetboil *might* come out ahead on fuel weight savings, but I doubt you're going that long between resupplies.
Why so much duplicated stuff? TWO pairs of pants? I'll make allowances for two pairs of boxers if that's one of your personal foibles, but why two pants?
Why two base layer tops? Just pick one. Make the call.
That's a lot of socks, too. But you are going to be 7 weeks, so carry whatever you have to for your comfort. I would think that you could lose one pair of socks, at least.
Do you really need Crocs if you're wearing trail runners? If you absolutely can't stand wet feet from stream crossings, ok, but you probably don't need the Crocs.
8L of water? Wow. That's a lot of water. You could at least halve that and save *9 POUNDS*.
Why the shovel? That one kind of puzzles me. Am I missing something?
Many people have argued that you don't need a honking-big knife. I carry a Leatherman Micra and I'm considered extravagant, but I consider the scissors and nailfile handy for personal hygeine and foot care. OTOH a Leatherman Squirt is nice for gear repairs because it has a pliers. Both are less than 2 oz. Some people here just carry a razor blade or the scissors removed from a Victorinox knife (not the whole knife, mind you, just the scissors). But I think they are insane. :o)
Well, that's the stuff that really jumped out at me. I won't get into minutiae- I'm sure others can give more advice on cutting your weight down to almost nothing, but it will be expensive and I'm sure you'd rather be out hiking than emptying your bank account.
for bad spelling and scandalously bad grammar...