Lets face it, as Jon said it would be very easy to price yourself right out of the market going after the last 1/2 lb of weight reduction. You have to keep in mind what your end goal is. For years, while working for another company, we spent many hours looking for a 1/2 lb of weight reduction but every time you invested in the time, tooling, materials to drop that weight you just narrowed your market considerably.
At some point styling has to be considered, to sacrifice an appealing design to cut another few ounces may not be the right thing to do.
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