You're giving up muzzle velocity and therefore, theoretically, shortening the range at which the 5.56 round will fragment. A superlight Bushmaster (or Colt etc) is a pretty light barrel.
I guess some of the contractors have had good luck with shorty barrels with some of the heavier AR rounds, but just to lose weight and have the same length barrel? I don't know if that is worth it. Now a 10 or 11.5, or whatever they are if you were some high speed guy going in and out of vehicles and inside structures a lot, I'm sure they know what they are doing. For me I'd just as soon have as much rifled barrel as possible since I am stuck with a 16" anyways.
Edit-I handled a cavarms lower with a pencil barrel this summer, it felt like a toy. Someone here posted that hte difference btw a cavarms and a regular lower was not as much as I thought, but they sure feel light.