Got mine lightened a fair bit and it made a big difference
When people talk about loosing torque this is true, but only when taking off and flat changing. Your flywheel is basically a large lump of metal that spins with the motor, like anything, if it's lighter it requires less energy to change it's rotation speed, both acceleration and decelaration.
OK: That's all well and good but what's it mean? I found when taking off easy at lights the engine required slightly more throttle to prevent stalling. That is a minor, and in my opinion only, draw back.
The upside is your motor will be MUCH more responsive and have much more sensitive throttle feel.
It was a big help for drifting ;o)