I've looked into this... alot
The RF platform is a nice light package IF you leave the 550 F in it... Add the Aaen pipe/can, get Dynamo Joe to set you up with clutching and some custom work...
a custom set of Cromo a-arms, some Floats on the front, Timbersled suspension, a lightweight tunnel with built in snow eliminators (with the fan.. no heat exchanger), lightweight seat, strip out the foam, have wildchild build you a X-style steering post (or a Park/tundra LT steering post), lightweight bars and riser, the new 146 track, extros, make some aluminum spindles delete the heavy headlight assy, run some Slydogs skis and you should have a 380 lb mountain ripper!!
Ported and piped, the 550 is good for another 20 hp... 85 hp or so.
If you add a Liqud cooled motor... you add coolant weight, cooler weight etc...you wont be much lighter than an XP stock and definately not lighter than 400 lbs
A well clutched light RF would rock but in a LC sled, you'd be ahead of the game in a rev or a XP.
If you keep it simple... great sled if you keep this in mind.... go for the liquid 800 or bigger and you'd be better served in another chassis
Dont get me wron... I'm all for the underdog!