That will add quite some extra weight to the unsprung mass of the bike but it's a nice detail.
Henk.
Not at the rear, it won't and on the later bikes they saved unsprung mass at the front by removing the ammeter and switch panel. The smaller headlamps must have been lighter too. I doubt that anyone noticed though.
I'm not aware that Norton ever did this and their only concession seems to have been the steel plate tappet cover.