I assume rev more freely is just that, and you don't mean rev higher, as this would be likely at the expense of torque lower down.
You can certainly have the cams reground, and is around £65 per cam, only the inlet needs doing though, IF you have enough valve piston clearance to cope with increased cam lift ?
This will be mainly mid range and top end for a fast road cam profile regrind, but headwork would increase it every where even at bottom end, but costs a lot more.
Lightening the flywheel is a very cost effective performance improvement, it will be balanced afterwards, but this will improve it everywhere, losing inertia will have a knock on effect pulling away however, where you will need a few more hundred rpm, and need to feed in a bit more gas pedal pulling away.
For all the above I personally use B E Randall's, of Hepworth, Near Diss, 01359 251888.
There should be enough base circle to be able to regrind your cam, but not sure on your particular engine.
tabetha