Whew! 35 pounds is heavy! Of course last time I started complaining about the weight of my bike, my friend said "You could always lose some weight!" This is a slight (but not total) obsession of mine as a person who is challenged by going uphill. My old bike was 29 lbs., my new bike is 27. I think you'll be hard pressed to get 5 pounds off your bike, but one of the cheaper things you might do is get lighter tires. If you don't have kevlar now, they're lighter. And if you get a narrower tire with a lower profile you'll have less rolling resistance too.

Of course, there's always the option of getting a new bike. Good luck!