I'm sorry but this is just too stupid, and I couldn't disagree more. Your logic is almost the exact same logic that some people use when they want to buy a big car, just because they are "way manlier" than small cars.
It's plain dumbness, and I do hope you are joking.
Anyway.. It is all about the IQ! The day when someone makes a small P&S-sized full frame body, with awesome IQ, dynamic range, clean high and low ISO, and decent AF, I will be the first photog to drop my big ass gear and go light weight! ..And I am pretty sure that many thousands will follow. At least all who mostly shoot static subjects and landscapes.
Why on earth would I want to go hiking or traveling with a bag full of bricks, if I don't have to?
it's not dumbness, because what you're talking about is completely wishful thinking. what P&S camera do you own that gives you the same "awesome IQ, dynamic range, clean high and low ISO, and decent AF" as a XD-level camera and L-lens?
sure, if you could fit everything that goes into a 5DIII, with the exact same level of performance in all ways (not just IQ, but also AF, ease of handling, etc.) ... then sure, why wouldn't we all save ourselves a few pounds. the reality is, that camera doesn't exist. not even the Sony RX-1 qualifies. there are plenty of instances when I'm on vacation that a 35mm f/2 lens would absolutely not be acceptable for what I am shooting.
I believe the OP was being a little tongue-in-cheek about the manliness thing, his real point was he enjoys the flexibility of having all of his gear available to him to use. as a generalist, I couldn't agree more. one moment I am shooting a landscape with GND filters on a tripod, the next moment I may want to be shooting a bird with a telephoto and extender. to do that, you have to walk softly and carry a big bag.