It matters to me, especially beyond 7-10 yards.
I chose the Lwt Gvt for carry because it just carries nicer than a steel gun. But putting a lot of rounds through an aluminum-framed 45 is likely to lead to a cracked frame at some point, so I practice with an all steel gun. I find that the 5" Lightweight Government handles and shoots a lot like a steel 5" gun -- more so than a Lightweight Commander shoots like a steel Commander. Plus 5" guns are easier on my damaged ears at the range than Commanders. That's all -- it's not a revelation or a high concept, just my preference.