personally i would keep the 240jug and have it ported for the power that you want. yeah the stock cylinder will rev a bit quicker, but the 240 will always have more torque, which helps get you out of the corners quicker. a lighter flywheel is a great idea, it definetly helps. I have a ported stock cylinder, and while it is very strong in the mid and topend it lacks the lowend needed for XC racing, which i have gotten into...
1995 Blaster. Bored .040" , midrange ported, head rechambered, pro series reeds, FMF fatty/Dg silencer, lightened flywheel, +4 timing, Hydro brakes, Lonestar +2 a-arms, Works dual rate G-series shocks, +2 swingarm,. More to come