I finished up the back part of the panel and tested everything out with a 40lb bag of salt.... I think this may actually work out.

Checking out how everything will come together with a load here.
Ready for a load.
Salt bag loaded up.
Here you can see I installed a second female buckle for the cord buckle to the top of the frame. It's used to secure bulky layers and such at the top of the lumbar pack, but can also help secure/stabilize the load left in the bag when in pack mode. I tucked my kill kit bag under the exterior shock cord for purposed of demonstration.
I carried the loaded pack around the house for a bit using the backwards and not fully tightened Kifaru belt, with one hand over my shoulder to stabilize the top of the frame (lacking any shoulder straps, load lifters, etc.) and nothing collapsed or failed. I'm really curious to see how comfort and sag is with a properly fitted belt and shoulder straps.
At this point, I think it's safe to say this proof of concept is going to be a success. I can work through minor execution and design issues in the subsequent iterations that are almost certain to follow.
Here's the full frame package, poles and all, using the existing cord to secure the package. Heavier than I wanted at 10.4 oz, but I can work on that.
