Now I realise this is getting trivial, but I feel like I need to defend my honor.
Long story short it seems I have embellished the numbers however and couldn't live with myself without a correction.
The stock 78 550 rear axle/axle spacers/CB350 steel bearing spacer (using 350 rear hub) is 1219grams. Hollow axle/alloy axle spacers/ replacement alloy bearing spacer is 590grams. So 629g's or just under 1.4lbs. Not even apples to apples, but for arguments sake.
The 78 CB550 front axle and spacer is 381grams vs the 20mm hollow axle @430. But considering the smaller ID wheel bearings and alloy bearing spacer it'll be a wash, but have a much stronger axle in the end.
There, now I can sleep at night!
On the street hardly worth the effort, but some of us can't leave well enough alone.