The best T5 info I've found is from Inliner Grant Galbraith at
T5 Conversion There should be no reason to change flywheels.The clutch is balanced separately from the engine components. My clutch shop says that genuine GM clutches do not need balancing in 99% of the ones thay have installed in 40 years. Aftermarket or rebuilts are a different story, some are so bad they cannot ever be balanced.
Regarding your choice of a 3.08 rear, that will be pretty steep for a 235, although you don't mention what vehicle it's in. with a .73 overdrive 5th that will make your effective final drive a 2.24. Good for MPG but you will be shifting gears a lot. Also your 1st gear acceleration will be pretty meek unless the S10 is one of the 4.03 1st gear T5s. I would shoot for something around 3.73 or 3.90. There are lots of factors to consider in this conversion. Tire size, tranny internal ratios as well as rear end ratio, cam specs etc. to provide good gas mileage and still be in your engines "sweet spot".
[This message has been edited by Jack (edited 07-27-2002).]