The type of wheeling I enjoy really does require larger tires and at least one diff locker to get through. I chose to run F/R lockers to reduce drama and potential for damage. Larger tires are important to me on the 200 due to it's portly dimensions and general lack of ground clearance. In my 80 or hilux, I could easily clear obstacles on 31-32" tires that the 200 gets a little "tricky" with on 35's.
But I have managed to keep the weight in check in all of my rigs to date. I always go light on the armor. Usually just sliders. I've frankly never needed skidplates until I started wheeling the minivan, which has much less ground clearance than the older rigs I'm used to. I don't run a winch, but always wheel with a buddy. I've run stock bumpers on most of my rigs. They get scraped, dented and ugly, but I consider it a sacrificial part and easy enough to replace if resale is a concern. What makes a rig heavy is FR bumpers, winch, dual batteries, tire carrier, and frankly, all the "overlanding" crap that people cram their trucks full of. I've considered purchasing a lot of pre-built rigs and usually find myself thinking I'd end up selling or scrapping most of the mods the PO did. Having rolled a truck before, I cringe at all the heavy stuff people put on their roofs.
It would be nice to have 2 rigs, one for wheeling and one for general light duty "truck stuff" if I had the room. For me, I think that would be a 'cruiser for wheeling and a stock 1st gen Tacoma for "truck stuff." We've also got a Tesla and my wife's RX350, so there are other options for DD and highway trips.