I think you are looking at the single least effective component of the cooling system to accomplish your goals.
Your goals: reduce weight in the front, increase power.
You should be thinking about:
- Relocating the radiator to the rear
- Confirming adequate airflow and shrouding through the radiator
- Increasing the internal pressure
- Increasing total water volume
- Adding contrable fans (electric, with good switches and gauges so the driver has good info to increase or decrease fan airflow)
- Water flow (flush and clean)
- Water pump capacity and flow
- Electric driven water pump if you can
- Pure distilled water in the system- no coolant
The higher the temp, the more power, until you overhear (Ok, that's an over simplification). 212*F is your limit before water vaporizes, until you pressurized the system. 265*F is quite normal with a 30 lb radiator cap.
If you really want to get weight off the nose, move the radiator to the rear. That will shift the weight of the radiator, fan, related piping, AND the water in the system.
Here's a pretty good article:
Cooling system article.