I am not going to say what difference in handling the flywheel weight makes, because that is hard to quantify.
I do know that the lighter something is, the easier and the faster it is to more it.
Taking static weight off of a vehicle is one thing, but when you take rotating weight away it makes more of a difference.
The closer that rotating weight is to the engine the bigger that differnce is, when I say closer I mean if it is running through gearboxes, diffs and chains.
I once read an article in Circle Track mag, that said if you take 15 pounds off of static weight in the car, it makes very little differnce in accleration.
Then if you took 15 pounds of rotating weight from the wheels you would make an even bigger difference.
If you took 15 pounds out of the diff it would be even greater.
Then the tailshaft, the gearbox.
The single biggest gain you could get was losing that 15 pounds from the engine where there is no gearing involved.
Simply put weight drains useable horsepower, less weight faster acceleration and decceleration.
Which means the engine doesn't have to work as hard or the brakes to slow the bike down.
Add in a better ignition system as well and you gain a $h!tload of performance.
I am sure someone will disagree with me but that is the FACTS!
So it is a combination of the two things together that give you the gain, which one does the most, I am not getting into that one.
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