Going w/ lightweight pulleys could increase FE by maybe a half a percent or so w/ a typical driver in stop and go city, but technically if someone is driving efficiently they shouldn't be stopping and going that much, so it's kind of a moot mod for most efficient drivers. If someone is racing otoh, dropping ~15-20lbs off of the powertrain's rotating mass is the equivalent to adding a few to several HP in first gear depending on the max engine speed/gearing, so it's cost effective in that sense.
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