The center of the 2 piece rotor is generally constructed out of aluminum, which makes for reduced overall weight of the rotor, which reduces unsprung weight. Lower unsprung weight will help ride quality and help the suspension to do it's job more effectively (I don't have the knowledge to expound on, or quantify this effect).
Rotational mass is also reduced, but since the rotors are near the center of rotation, I would imagine they have a negligible impact on this.
I like to look at upgrades like the 2 pc. rotor thing this way: If the difference in cost could delay me in finishing the project and getting it back on the road, or buying another critical part, then it's not worth it. For some project budgets (or lack thereof), the cost of the upgrade won't make or break anything, so go for it.
If it had more of a functional impact, it might be a different story.
Not all 2 piece rotors are much lighter than steel single piece units. i work on alot of high end modern stuff which most cars have dual cast rotors with cast iron outer and a aluminum hub. When we weighed two piece rotors for direct replacements they were heavier by a good margin.
if weight is your ideal goal weigh the options literally
Most street guys who never see a track spend a good fortune for two piece rotors for cosmetic reasons as well. we see this often in the high end euro scene.