If you reverse the OP concept then you are looking to save a total of 1,5lb. Nice but is it worth the effort? 50 rounds of 9x19mm will bring the target down to a reduction of 1,35lb compared to .30 carbine. If you are lightening an M1 then one could go to 9x19mm and shave mass off the existing design and, with the excellent sights, cope fine out to 200 yards. Shorter barrel and throw away the bayonet, shorter receiver and job done plus one less ammunition type for the allied logistics.
IOTL one has to question why the USA had both the M1 Carbine and the M3 SMG. plus loads of M1911 pistols. They were for the same users. Ditch the M3 and swap to a 9mm pistol and .45acp can be abandoned completely. If the argument is the M1911, Thompson, M3 and M1 were needed to have enough PDWs then the answer is to make Sten guns and abandon pistols.
IOTL one has to question why the USA had both the M1 Carbine and the M3 SMG. plus loads of M1911 pistols. They were for the same users. Ditch the M3 and swap to a 9mm pistol and .45acp can be abandoned completely. If the argument is the M1911, Thompson, M3 and M1 were needed to have enough PDWs then the answer is to make Sten guns and abandon pistols.