I have a couple of Schmelkes with the radial joint directly into the wood. I really love the feel but want to jump on the low deflection bandwagon. Even with the standard maple shaft I wouldn't mind moving the weight forward and was wondering about what you did with the reversed woods before I saw your post. With standard wood, the balance would probably be better with a brass insert joint but I don't know if I would be sacrificing feel. As it is, my 19 ounce cue has a 2.5 ounce weight bolt.
If you choose the right woods and have the build fit those woods, you wont need a metal joint and probably wont need a weight bolt.
I personally hate a metal joint and if a cue might be coming in a little heavy, I have them put a G-10 pin in to keep the weight down.
Keep in mind that ebony will always come in heavy. Try to find a lighter wood for the butt end and go with ebony in the forearm.
I'm talking Schmelke builds here. Other cuemakers can lighten a cue by coring it. To the best of my knowledge, Schmelke does not core any of their cues.