Just look at time trial bikes, disc wheels. Aero wheels and frame make a huge impact on energy saved during flat stages. Weight really only comes to play while climbing. The 60 lbs save would have much less affect then aero wheels.
Yes, more mass would require more force to start rotating wheels and have more rotational momentum. Ideally that increase in rotational momentum would be recaptured in the regen system.I’m no engineer… but lighter wheels make a huge difference on a motorcycle, even bigger on a bicycle. Something to do with rotational weight, and… physics. I’d guess that yes, it will give better range. But not a shattering difference.