Weight reduction is weight reduction, and every pound counts... but when you're working with a limited budget (as most of us are), perhaps one should consider the Dollar/pound ratio of whatever one is thinking about buying. If a new hood shaves 5lbs off the front end, but costs $1500 once it's bought, painted & put on the car, that's $300/lb.
I can think of quite a few better uses for that kind of money...