While 7000-series may have twice strength and fatigue-resistance as more common 6061-T6, so you can make it lighter in the stronger alloy. However wear-resistance is same for both. Same rockwell, same density, same modulus, etc. Even hard-anodizing isn't enough to extend wear much, you'd need something like a DLC or ion-impregnated surface.
I think ultimate sprocket for weight-savings AND strength/durability would be an aluminium centre carrier with steel outer-ring for teeth. Kinda like floating disc-brakes with separate centre.
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