Sorry for being a busybody but I think you guys are getting it wrong. Lightening the flywheel will cause you to lose torque coz lost of inertia of the lighter flywheel (due to less weight). It'll rev to higher rpm faster, at the expense of lower end torque. So in layman's terms, you'll feel like what Vtec engines does; very high rpm but no torque in the lower end. When going up hill or carrying heavy load, it's bye-bye.
It's nice to have a lighter flywheel for hi revs but in town driving, I think it's no fun la. Have to change to lower gear all the time.