I try to find a balance.
I started with my pullover, I wanted light so I opted for the lightest I could find with an insulated top, I had no need for full insulation, primarily to keep weight down. I only use one seat, it saves me 12.2 pounds. My sled empty weighs about 36 pounds.
My heater, spud, safety items, auger, fish finder, rod bag, traps are all needed. I will leave traps at home if I am running and gunning for the day
I bring a small 5ah battery (1.5lbs maybe) to charge my LED light, speaker and phone on the ice, I like to listen to music while fishing and navionics and music is streaming from my phone, the LED light is strapped top top bar of my pullover to light it up in the dark. Spare cleats, xtra tank of gas, food, snacks, 2 poles to reinforce, I only use front and rear, I do not use the 2 extra ones to save weight.
At the end of the day, it all depends on the conditions (if it snowed and there is slush, I bring the bare necessities only), situation (solo, with friends, with kids) and what I am targeting (my panfish stuff is one box, my laker stuff is 3 boxes). I have gone with literally, a spud, rods and a flasher when I can get away with it. I have also dragged out a 5 person pop up, extra heater, and more of everything else if I am going with a group or my kids.