My Giant XTC always seems surprisingly heavy compared to mates' bikes but I can't really see where the weight is. Seems like it should be a bit lighter for the spec, which is decent but admittedly not weight weenie:
XTC Alu hardtail frame (2006 I think)
Hope Pro II hubs/DT Swiss XR rims
LX chainset/Octalink BB
Hayes Stroker Trail brakes
Reba SLs (OEM so maybe steel steerer)
Charge Knife saddle
Fire XC Pro folding tyres
In fact the only original bits are the seatpost, bar and stem which are all Giant's own brand stuff. For comparison a mate recently bought a Rockhopper with a (on paper) much lower spec but it's noticeably lighter.
There can't be too much weight in the frame and Giant-branded bits- can there?