I'd appreciate it if someone more experienced than myself could check my thinking and make sure I have this right. In comparing a ~2 lb aluminum backplate to a ~2 lb steel backplate (the Dive Rite "lite" model), it seems to me that the steel would still be more negatively buoyant than the aluminum. Assuming they're the same weight, and since steel is typically ~3x denser than aluminum, it must also have less volume (hence the cutouts in the plate), thereby displacing less water and being more negatively buoyant, right?
If I had both plates on hand, I'm sure I could measure the volumes and calculate the difference but since I don't and I'm confined to a thought experiment, am I thinking of this correctly? If I am, then my follow up question would be is this buoyancy difference significant enough to reduce the additional weight needed for diving or is the real world effect negligible?