Plinking mainly. If things go bump in the night, though...
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+1 on the 6720 as light as anyone needs
If I were in your shoes, this is what I would do. (Just preliminary thoughts off the top of my head... this won't be perfect.)
-Light Weight 14.5" barrel, pinned flash hider to make 16". (The 3-prong style might be lighter than a bird cage.)
-Find a slab side upper receiver.
-Mil-Spec receiver extension, with a CAR stock on it.
-Semi-auto, or Colt Half-circle bolt carrier.
-CAR buffer, not an H. Get a heavier action spring if you need to.
-Carbon fiber FFT.
It doesn't matter how much less the Cav Arms weighs from an A2 lower... the A2 lower isn't that light. An M4 lower w/ a CAR stock is light, though. That's your comparison. If the Cav Arms is lighter... I'd trust a Cav Arms... they've been around, and with the other lowers that are plastic out there (SCAR, ACR) I'd have no problem with it. Seems to be a quality product, from the few I've had any experience with.
That said... A friend of mine built a range rifle for his wife using a Plum Crazy lower, with the intention of it being very light weight. Some ruggedness if obviously sacrificed... but if the goal is absolute extreme low weight, that's the way to go it seems. He's put a few hundred rounds through it, and isn't too gentle with his rifles... seems to be holding up so far. Wouldn't trust my life to it...