Agree completely re lighter bike. My friend, who is a Raleigh dealer, was also very surprised when he heard which bike Steve was going to use.
The other thing about Steve's bike setup that could be massively improved is his aerodynamics. Granted he is not going at high speeds most of the time (although he will spend a lot of time in a year going down hills and it will add up), but he looks like he is very high and pushing an awful lot of air, compared to, say, Kurt. So he needs to use more energy to get the same speed. or ride longer to get the same distance.
You can't just change your position overnight, you need to get used to it, so it's not a quick fix. But Steve does have all year, and I am convinced there would be big gains to be had if he worked at it.