I am guessing the rear wheelset is a tank. I would say to save your money because you would have to spend a ton of money to get the bike remotely light. Kenda small block 8's are super light but you DEFINITELY will be sacrifcing traction
aside from building a new wheel tubeless and lighter tires could account for some rolling weight loss. That said it probably wouldn't be that much although it would more than likely be noticeable in the pedals.
Depending on tire you could probably lose 100gr of rotating mass alone, the tubeless conversion would likely be a wash.
I ran a Hope Multi-speed hub/Delgado rim/Champion spokes with a Bontrager tire on my Peace. Dropped mucho grams and no problems. That said, my front was a Salsa CX rim/Dura Ace hub and it's also running true and relatively light.
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