I don't understand your logic. The tailshaft is a rotating piece of the drivetrain, exactly like the flywheel.
I'd argue that there is a lot more bang for buck in things with large diameter because inertia does after all have a r^2 component.
I'd pick flywheel lightening to be biggest bang for buck for reasons of weight, angular velocity range and diameter.
The rest would be hard to separate. Wheels get the vote for weight and diameter but you want the weight removed from the extremities, which may be difficult to achieve.
Tailshaft is relatively skinny so i'd think it's bang for buck is pretty low.