What are the benefits of a lightweight flywheel?

I'm replacing the clutch on my S14 with an Exedy Stage 1 kit and I was wondering if it's worth getting a lightweight flywheel put on while I'm at it. If so what brand do you recommend?  
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Rev, shift, smile, repeat as needed.

The benefit of having a lightweight flywheel is to decrease the amount of rotating mass the engine has to move, thus freeing up hp(sometimes) and allowing quicker revs. Any of the name brand flywheels will be fine, but since you're getting an exedy clutch installed, might as well get an exedy flywheel as well.  

Thanks for the info. I've been looking at clutch and flywheel combos. I think I'm going with Exedy clutch and ProLite flywheel. I'm also thinking of getting a short throw shifter while I'm at it.  
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Rev, shift, smile, repeat as needed.

A small displacement engine works better with a heavy flywheel or stock weight flywheel 95% of the time. A light weight flywheel makes the engine rev faster but also makes the engine to drop rpm's faster. For that reason is mainly used for road racing because it can help the car to acelerate faster from the corners. But for Drag racing the car (especially if it is a heavy vehicle) is usually slower with the light weight flywheel. The only time it helps sometimes in Drag racing is when you have a heavy modified engine with a lot of power and torque (like Turbo charger or Nitrous engine) that spins the tires too much. Under those circuntances we usually use a lighter weight flywheel to reduce tire spin.

For street use you are going to like that the engine can rev faster, but don't expect it to be any faster at the drag strip than with a factory weight flywheel.  

This car is my backroads racer but also my daily driver. Am I going to have any trouble in stop and go traffic and commuting with a lighter flywheel? I imagine I'll be shifting more. I got to order parts soon and I'm just trying to get as much info as possible.  
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Rev, shift, smile, repeat as needed.

I have a chromoly lightweight flywheel on my s14 with an Exedy Stage 2 clutch and I hardly noticed a difference (although I'm not too good at judging small differences--I daily drive this car as well). The addition of a lightweight flywheel will only let you rev up SLIGHTLY faster, so you won't be noticing a difference in commuting. You would be shifting more with perhaps a final drive because it changes gear ratios, but definitely not with just a lighter flywheel.

Hope this helps  
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1996 Nissan 240sx

Thanks, I ordered the parts now I just have to wait. I'm dreading what the cost of labor will be by the time I'm done though.  
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Rev, shift, smile, repeat as needed.

You are not going to have any trouble at all.  In fact you probably will like the car and the way it feels and responds with the lightweight flyweel more.  And it probably will FEEL faster.  The thing is that when you actually and really time it you will notice that it is not as fast as it seems and probably slower in the drag strip.  

I finally got the car back and it's all good! Thanks everyone who replied. The most interesting thing so far has been watching my sister get used to the new flywheel and short shifter when I let her drive  
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Rev, shift, smile, repeat as needed.