I'm with Gorby re: the flywheel effect, which will be higher with steel plates, but remember you can also use this to your advantage.
If you want to tame an engine that is too snappy then the heavier flywheel effect offered by the steels is the way to go and vice versa using the alloy ones- the steel plates are more about longer plate life rather than having much to do with the rotating mass (flywheel effect)
Either way FREQUENT oil changes are the key to long component life be they bearings, gears or clutch plates. The golden rule of regular maintainence is OIL IS CHEAP when compared to spare parts!!!
See you at the back of the pack in '08