Where underboosted is going with flywheel weight is applied torque to the drivetrain and then the wheels.
IE 4.0 spinning a 30 vs 21 lb wheel will have more torque to apply to the driveline when you let the clutch out, due to the additional energy created by spinning the heavier mass. The other side of the coin is the engine has to produce more energy to spin the heavier wheel. Optimal flywheel weight really depends on vehicle intended use and complete drivetrain setup.
Also skid the caddy should have an aluminum DS from GM. They use aluminum on all the DS and torque tubes for reduced rotating mass. However it’s done to improve highway fuel economy 0.01 or w.e. MPG. In the real world aluminum vs. steel no real difference on quarter mile performance in a 13 sec 6k pound car. It’s like the difference of a spare tire in the trunk or not.