I would have to see 'em side by side, but I can't imagine there being more than a few pounds difference.
In a 6-cylinder engine, an angle valve weighs 50 lbs more than a parallel valve. Not much else is different, so figure you'd be about 35 lbs heavier. That takes 70 lbs out of your 200 lb savings, so you'd only be saving 130 lbs.
My hope was to have a 4 cylinder that only turned 100-200 more rpm's than the 540. What RPM does the 540 in the Aztec make peak HP at??
2575 RPM. Standard 4-cylinders are rated at 2700 RPM, helicopter ones have been higher (as R&W pointed out), but are then typically derated.
My hope is that a big inch 4 cylinder will be able to beat the stock 540 in HP per Lb (should be easy), make 250 HP, and still be more fuel efficient.
Think about what you're asking for. A stock parallel valve 4-cylinder makes 180 hp. A stock angle valve 4-cylinder makes 200 hp. Even the 390 I think is rated at 210 hp (someone else might know this better than me). You're looking at trying to add about 25% more power to an engine. That's not exactly a small feat. Compression will gain you some, but ultimately it comes down to getting more air in the cylinders, which will require some porting work and/or more RPMs. Let's not forget that the induction systems weren't designed to flow that much air, so you'll have to design a new induction system.
Possible? Yes. Reliable? Probably not. Fuel efficient? Definitely not moreso, at best it'd be equal. Your SFCs are not going to be much different, and that is ultimately what impacts your economy.
Yeah, that would be the way to go for most circumstances, but I'm trying to find ways to push the range of the Aztec as far past 1,000 miles as you can possibly get.
That's a much different question. Looking at raw range (no wind), the answer is more fuel. If you want to factor wind in, turbos that allow you to get up to higher altitude and catch some tailwinds will help, but only heading eastbound.
Basically, you aren't changing the efficiency of the airframe, so in order to get more range with the same fuel, you need to get better SFCs. The engine designs that exist for aircraft today will have some variation, but are in the same general range.