I've packed 8 pound plus rifles around the mountains for the past 25 years and I've always cursed the weight of the rifle but I'm not sure I'd have cursed a seven pound rifle any less. I finally broke down and got a sub seven pound rifle this week so I'll let you know after the fall is over...lol
Any rifle can be a mountain rifle and long before weight becomes a factor, accuracy and durability enter the equation. The 700 will do the job just fine and if you find you really want to seriously hunt the mountains, then a new rifle might be in the cards down the road. Right now I'd be far more concerned about clothing, boots, tents, packs, cooking gear, food, etc. Spend your money where it matters most and get by with the quality gear you have already.