Seems I've seen reports of the 31L weighing considerably less, but that was without the Cutts which probably adds weight in addition to a lot of racket. wink
My 1939 first year of production M37 in 20 gauge weighs slightly more at 5.75 lbs. It's hollowed out stock helps weight reduction.
Ithaca made some ultralights out of alloy receivers and mahogany stocks that may have come close to weighing less than the 31L, but I don't speak with any authority on that. Many consider the 31 to be the smoothest, slickest pump ever made--"like greased ball-bearings" when cycled. I've seen commentary that the 31 is the 17 but with side ejection, but I don't see the resemblance other than wood on one end and steel on the other. Nice find. Gil