Weight is not the only benefit. A butyl tube is relatively stiff compared with latex and I have found that with latex I can increase my tyre pressures from my normal 100 to 110 or 115 and still find them more comfortable thanks to the fact that the latex is so much more compliant. They also seem to give better grip in corners. I've never used tubulars but I guess this is the nearest you can get to tubs using clinchers. By my reckoning with 10 or 15 lbs more pressure in the tyre it will roll faster.
Those Continental lightweight tubes look interesting, I think I'll try a pair.
On the tubs thing, I use tubs on Zipp 404 carbon wheels for a very light combination on hilly route or sprint triathlons. Personally I'm not so sure really light wheels are good on a TT as the front end can catch the wind quite easily and you seem to spend time correcting your direction and less time focussed on going in the straightest line as fast as possible. Personally I don't like it much.
For really long races I prefer a standard wheel and tyre combo, I can carry two inner tubes but I don't want to carry two tubs and at £50-70 each it's not a cheap game.
It would not surprise me if this was one of the reasons we see so many wheel touching crashes in road races with lighter deeper rimmed carbon front wheels.
On windy days I mix tubs and tubes and go for a 404/tub combination on the back and a normal tube/tyre shallow rim on the front.
I've tried latex tubes, but you can't leave a bike in transition over night without having to blow them up. Plus they are easy to nip when fitting a tyre, so a quick fix on the road needs to be done with more care.