One of the themes that keeps recurring on this site is mods and warranty. I can understand that your non-turbo has run great, and that 5hp is a lot when you start with 150. For most of us, taking a chance on warranty cancellation for a mod MUST have a pretty big payoff, and in the grand scheme of things called HP for the turbo a 5hp mod is pretty low on the list.
By the way BBK makes underdrive pulleys for 5.0 mustangs, both steel - heavy - and billet aluminum - light. They advertise the same HP gains for both.
A part with a large radius and high weight like the flywheel will definitely effect torque, but these underdrive pulleys have such a small radius and the weight savings is so small, I wonder exactly how much you get for the bother. In a pure race vehicles where every ounce counts it may be important, but for daily drivers it would have to be a personal issue.
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