I'm midway through draft 2 of my first novel. I'm surprised at the amount I've cut already; most of it was cut while getting rid of weak words. Whether you learned on draft 2 or draft 8, what did you learn revising your first?

I'm midway through draft 2 of my first novel. I'm surprised at the amount I've cut already; most of it was cut while getting rid of weak words. 
I didn't really do a "second draft," per se. This was how it went with my dearest number one:
1. Write 20% of novel.
2. Scrap and start over. Write 50% of novel.
3. Scrap and start over. Write 80% of novel.
4. Chuck certain parts and write over. Write 100% of novel.
5. Take out once a year and do a read-through. Edit for awkward phrases and other little mistakes.
6. Sigh and put away in trunk again, dreaming of the day when I am famous enough to make this quirky thing commerically viable.
