Not the same thing, but some similarities. I had a '87 RX-7 turbo ii. The flywheel was very heavy, 28lbs. I had a RX-8 which had a 17lbs flywheel and a little lighter internal engine parts. Glossing over some details, the engine is pretty similar. The RX-8 had a much nicer feeling. No downsides all upsides.
I drove a Miata with a very light flywheel and hated it, particularly from takeoff, even shifting. Engine didn't feel super lively either, but I'm assuming there was some difference.
I suspect the FiST would benefit from a somewhat lighter flywheel, but I don't think you want a super lightweight flywheel.