Fedora,
Macbow has some good ideas, If I remember correctly, Palmer's have fairly wide limbs and tips. If so, 5# reduction could be best accompished by carefully slimming the limbs with a tad of trapping. Sanding the back and/or belly may be more difficult to maintain tiller. If you're not too accomplished at doing these thins there are a few sponsors here on tradgang that can do it for you.
The "Bow Hospital", "Two Tracks" etc....