correct me if im wrong but a lightened flywheel will cause u to lose torque...it will give u alot snappier higher revs due to the less rotational mass thats spinning but sacrifices bottom end torque...big 4x4's use super heavy flywheels to gain that crazy torque
No correcting needed... shaving the flywheel reduces rotational mass so the engine can "spin up" faster. At the loss of "torque".
Strokedtater claims everything he has, has a lightened flywheel on it, including his old lady, cell phone, and toothbrush and APPARENTLY he likes it that way....
Personally, I don't like a lightened flywheel except for the things which aren't going to be used. I trail ride my yellow blaster (the one in the avatar) and wouldn't want to lose ANY torque even if it came at the gain of higher revs. I lug around through tight technical trails and sometimes I like to just kinda lightly rev over rough stuff, I don't want to have to clutch the pee out of it to keep those revs up...
To the OP, your best use of that money, is to save it. There isn't one "silver bullet" modification for under $60 that going to make a significant difference. Reeds might make a little throttle response difference, but they're not going to make a huge power gain. A jet kit for removing your airbox lid would help if you haven't done that already but you've already got a pipe on it, I'm assuming you've already jetted it and removed the airbox lid.
Your best bet would be to save up and get a port job and head mod.