I've done this hike by this route, and one of the nicest hikes, I think.
I agree, a pack of gargantuan size, and only essentials are contradictions. When I did this trip, I think my pack was about 20#. It would be about 15# now. (not including water).
From guitar lake area, I'd carry three quarts up, leaving one with the pack at the intersection. Use one to there, one to the top and back, and the third to Trail camp. One could use more, but this should be adequate.
As others have mentioned, the trek out of Chicken Spring Lake to Rock creek is dry, although mostly downhill, and when I went, there was no water from Rock Creek to Crabtree.