What you have there are "piggyback" pulleys. These are intended to provide underdrive to the accessories but to preserve the factory damper on the crank snout.
The "gain" from pulleys don't come from lightness (i.e. reduced moment of inertia) as it does from simply reducing the speed at which the accessories are turned. For any rotating machinery, shaft HP = RPM*T/5252 so by reducing RPM you reduce the HP it takes to drive the accessory.
Preserving the dynamics of the factory crank damper inertia ring mass and elastomer link (either by using piggybacks or using a damper specially designed to mimic the factory damper) is seen by many (myself included) as being very important to protecting the oil pump gears from crank snout harmonics.