While I've never had an aluminum block, my understanding is that reducing weight has influence on more than just power:weight ratio...braking and handling are enhanced when vehicle weight goes down.
When I first got my replica (bought it used, but in running condition) the previous owner had not adjusted the idle speed and it was idling at about 1500 RPM...every time I tried to make a turn on a road that had some sand or gravel on it, the vehicle "slid", for lack of a better descriptor. As my engine is all iron, I just attributed that to all the weight in the front of the car (my engine does not sit in the front "cradle" as far back as most, there is about half of the bell-housing visible as I view the back of the engine).
Perhaps the best advice I have gotten was something to the effect of: "Spend your $$ on good brakes and lightening the car, they'll never catch you!
I must admit that as I develop plans for the Clevor build, I always envision it with an all-aluminum block...perhaps that is not the best of ideas?
Cheers!
Dugly