Weight is less important than aerodynamics (within reason).
Unfortunately, nobody can really tell you what difference you can expect from a smooth undertray since every car is different.
You can see this thread for example. It has some "official" figures about Cd deltas for a specific car (Audi, if I recall...).
http://ecomodder.com/forum/showthrea...ly-pan-79.html (see post 9)
I measured a ~2% change in fuel consumption at 55 mph in an A-B test on my car with a full undertray. Other sources will quote different figures, often better.