Having gear that is light in weight, compact in volume AND cheap in price can be a challenge. You will have to do research and you may have to compromise. A closed-cell foam sleeping pad (like a Ridge-rest or less durable Z-rest) is light and cheap but not compact. A Neo-air inflatable sleeping pad is light and compact but not cheap (still worth the price, imo). If you strap a closed-cell foam pad outside of your backpack, then it's volume is less of an issue. If you mean what you say about year-round hiking in the Smokies in the snow, then you may want BOTH types of sleeping pad used at the same time: a foam pad underneath an inflatable pad.
Depending on the time of year and type of gear, that Osprey backpack can be larger (and heavier) with the lid on or smaller (and lighter) without. These days I go with a lighter, smaller pack, but I didn’t when I was 16 yo. Buy your backpack DEAD LAST after you have purchased all of your other gear. Bring the gear to the backpack store. In the store, on the floor, do multiple test packings, test fittings, and test walkings with multiple backpack types. Do not buy a pack that you do not like to wear. Also, if your backpack is a holiday gift, make sure that Santa is getting you EXACTLY the pack that you know that you want. Packs are like sneakers, fit and comfort are EVERYTHING. Pack recommendations are only starting points to find out what pack works for your body, your gear, and your walk. There was a good thread recently called “What size backpack to use for a thru hike of the AT?”.
For me personally, I don’t like hammocks, I like tents. I have tents that are double-walled and made of a heavier nylon with separate tent poles (like the MSR Hubba). I have several that are single-walled and made of lighter fabric that use trekking poles to pitch (like the Tarptent Contrail). Brace yourself, no shelter manufacturer has produced a design that will protect you 100% from the outside environment. If that tent did exist, I would worry about moisture condensation, oversleeping, and CO2 poisoning. But seriously, how can you get your best night’s sleep? A nylon tarp is light, compact and cheap but it might not be what you’re looking for. A multi-person shelter is warmer and saves weight because you can split the burden among roommates.
Keep us posted. Welcome to backpacking and happy hiking!
_space monkey_