Yes true, once the flywheel has inertia it doesn't need to steal any more to get moving, so it would affect the curve more than peak anything.
I should stop pretending to be an expert on this, I just remember the basic principles of inertia etc from Uni. I also remember the flywheel exists to smooth out the revolutions to as you say prevent stalling, and also to smooth out the otherwise even more jarring accel and decel on the conrod and piston etc, therby preventing fatigue and ultimate failure. I think, might have to check that. But in other words, I'm pretty sure to take it out would cause more winning, but also more expenditure I believe.
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