Jeremy:
I like the LPL strategy: one I would use myself. TO make the most of that time, I would also climb to at least LPL the first day and return to the portal to sleep. Second day, from LPL, climb another thousand or two, and return to LPL to crash.
AS for your equipment plan, not so much.
Take it from one who should have known better (and what do you think your NOLS instructors would tell you?)
My last trip to Whitney was in late June in a lighter snow year. I did the chute up and down w/o crampons or ice axe. I now think that was completely irresponsible of me and I would never do it again. Near the top of the chute, I was kicking and hand-scooping steps. If I had slipped just about anywhere below Trail Crest I would have been an integral part of the moraine in about 20 seconds.
You have plenty of time to pick up ice axes and spikes and learn how to use them.
Weight? Maybe half that of the water you should be carrying above Trail Crest.
Expense? Compared to the rest of your gear and what the trip is costing you? Look into rentals.
I would urge you to think about the weight and expense of getting an injured climber down the hill, too. The SAR folks in my part of the planet, known as the Coast Guard, have to live by a slightly different ethic from +@'s expressed above. For them, "Going out is mandatory; coming back is optional."
Which means you are putting others as well as yourselves at risk by going unprepared.
Hey, its not even an expense: its an opportunity to gain new skills, new experience, satisfaction in having done it right. Take the training. Basic walking and self arrest is about an hour lesson, and you will have plenty of opportunity below Trail Camp or at the base of the chute to practice safely. Get a good start from LPL and you will have a couple of hours that PM at Trail Camp to practice, check out the route, and observe and get TRs from those descending that day.
Have a great climb
