I would absolutely try lighter discs, because i already have. 137 R-Pro Boss is a very dangerous disc for passers by and scores for a 400'+ thrower even in calm weather. It so unforgiving and any headwind gusts will send those 100'+ off to the right. I had a gust happen to it at around 200' of flipped to flat and locked to flat flight. The disc wound up 100' to the right at 410' of distance.
Public safety and the image of disc golf would suffer from inevitable accidents if people with too much power for so fast and unpredictable discs would use the flip machines regularly. Of course nobody competent high powered player would, because finicky discs hurt the score as well.
If turn and fade characteristics of max weight brethren could be maintained the safety concerns and the need to baby the discs would go away for calm weather. In anecdotal evidence based on my throwing golf discs from 130 and up in gusty sea side courses all my 9 years of playing i am convinced that the current generation of discs in light weights does not fare well in gusty conditions. You can't predict gusts and it again becomes a safety and image issue along with scores.
I have had two Star Teebirds in 150 and save for the speed they started out similar to full weight ones in turn and fade. If i pulled power they flew as far and with similar lines to max weight ones in calm weather. In winds they get buffeted in every wind direction and flipped in heavy gusts from every direction except rear quarter. The glide is better in rear winds. There are many molds that behave the same in 150 vs max weight.
Wind molds should be different from calm weather discs no matter the weight. For safety, scores and predictability i would always throw heavy discs in the wind. I have no hesitation about throwing light discs in calm conditions. Bag will be lighter for it :-) I'm injured for life and approaching masters age so sparing health for the rest of the life playing disc golf is a concern and not needing to rip so hard for the same distance is a boon.
For scoring unchanged turn characteristics are absolutely vital. If you can pull that off the weight becomes an interesting issue. Courses would need to get longer to maintain similar pars and challenges and that may not be practical for the growth and athleticism (it's a word now, because you read it in the internet).
I don't think people can easily gauge, what the proper weight range for which disc is, because the turn and fade would be different from anything they've tried in traditional molds in light weights. I would assume 140 is still the absolute minimum for safety and athletic and acerage of courses concerns along with the safety of the public outside pay for play courses. I would not like the officials regulating light discs as lethal weapons needing to be confined to bunkers like shooting :-)