It will be a tightrope of issues about lightening things up on the engine rotating mass...all the theory in the world can go out the window when it comes to vibration, bearing life and pulse-damping effects (which can greatly alter clutch life and function). Trial and error, minimizing strange variables by blueprinting, is the only way to find out though. Just ask Dan what he thinks of a porkchop crank on ANY engine.
Any decent machine shop can lighten the flywheel... and then you need to get it balanced again. Balancing it anyway seems to make some sense.
PES makes the recoil basket bolts in Ti.
If you want to drop weight and grams are making difference... get rid of your grip heaters, headlights and related wiring... and unwind the stator lighting/heating/charging coils... then slice off the poles themselves.
You could also lighten up your sled by removing the oil pump... modding the cases for pre-mix to the bearings... remove the oil tank, lines and pump... build an injector carrier in front of the reeds and run pre-mix.... tune with a fuel controller.. then remove that with your numbers, and use a B-D0g flash to do that without the weight of a controller.... Happier reed life and sealing, and better overall lubrication for the engine.