I've bought used external frame packs for $10 that worked fine for getting started. Look for the Jansport models that have the simple waist bands. Mine weighs 4 pounds, which I think is pretty good considering I could pack it far past any weight I would consider hiking with. If Jansport took that frame design and used UL technology like silnylon fabric, minimal zippers, straps and pockets, it could be very light. A titanium frame would be incredible-- but so would the price.
Back to my point: if you get a good light-enough frame pack you can save your dollars for a lighter shelter and sleeping bag, etc. And you don't want to be hauling 32 pounds in an UL pack. Think more like 20. Unless you are going a long distance with no support options or hauling something like a large format view camera, you never need to haul 32 pounds of stuff. Look through the gear list forums. You will see some very radical lists and more moderate ones too.
I you are new to backpacking, are you using old gear from car camping or what? UL hiking doesn't need to be all that expensive, in fact you save a bunch because you don't need all that extra stuff.
Give us a list of what you want to use now and we might be able to coach you.
You will hear talk about the Big 3 -- pack, sleeping bag, and shelter. Clothes make a big difference and I would say the Big 4.
But don't fall into the trap that you must have the latest, lightest, most expensive gear to get your pack weight down-- unless that is your desire. The most important ultralight gear is above your eyebrows :)
In fact, you may want to go slow on aquiring equipment until you find what kind of backpacking you like to do and in what climate. If you day hike, it's a different thing than overnighting or long weekends and that is different than thru-hiking, etc. Each needs a little bit different gear with some overlap, but the philosophy stays the same: take only what you need, be aware of what each item weighs and what the options are, that you have total control over what equipment you use, and you don't need to fear nature.
Good luck and have fun!