The weight savings can be substantial enough to merit considerations. One of my co-workers had to have the barrel of his custom F/TR rifle fluted simply to make F/TR weight restrictions because NO ONE wants to compete in the F Open class with a 308.
You used to find fluting on "Lightweight tactical" rifles, but most factory fluting isn't deep enough to offer substantial enough weight reductions to bother with unless it just happens to be on the rifle you want. For a while there it looked like carbon fiber wrapped barrels were going to be the "next big thing" but the accuracy potential was never realized for centerfire rifles. They seem to be doing fine in the rimfire world though.
Jimro
You used to find fluting on "Lightweight tactical" rifles, but most factory fluting isn't deep enough to offer substantial enough weight reductions to bother with unless it just happens to be on the rifle you want. For a while there it looked like carbon fiber wrapped barrels were going to be the "next big thing" but the accuracy potential was never realized for centerfire rifles. They seem to be doing fine in the rimfire world though.
Jimro