You have 1 week left. Don't cut functionality. Instead "Add lightness":
http://www.chiefdelphi.com/media/papers/2220
I put this paper together as a compilation of techniques we have used in the past to shed weight and add functionality. If you are severely overweight, there are usually some pretty clear places to loose a lot of weight.
With a full week left,
put down your drills and Sawzalls, and instead pick up some paper and pencils. Aluminum is 0.1 lbs per in^3. Steel is 0.28 lbs per in^3. Look at your steel first, then address your thick aluminum stuff. "What is thick aluminum?" you ask. For most teams it is anything thicker than 0.065". This is often an excellent opportunity to swap out parts while other members tune in the machine.
Good luck. If you want specific tips, shoot me a PM and I will give you my email and we can discuss further.