I have a very similar setup: waxable Outtabounds, 3-pins with removable cables, and Garmont Excursions. It's an extremely versatile setup, I've done lots with it this year and it greatly exceeds my old E99s and leather boots. Today I skied Alexandria and Dukes on Cardigan, they've been on a considerable amount of backcountry and very limited lift served.
They are lighter than real tele gear. The boots (T-4s and Excursions) are touring boots, not turning boots. They do turn, and much better than leather boots, but I also have a pair of of Veloces (similar to T-2s) and there is a world of difference. Today they got pushed around by the sloppy snow, but the skis have the ability to turn so I did pretty well.
On lifts they are limited, I wouldn't feel good on them in anything serious but I could do blues without too much trouble. On ice they would probably suck.
It's a good ski, matched with a good boot. I highly recommend the setup for backcountry use.
-dave-