Gee...you had to ask that.
Well, lets take the AL 80 as an the example.
The calculated stress (per CFR49 equation, not the hoop stress) during hydro test is 31,872 psi. If I recall correctly (I am at home, no engineering material data here) the yield stress for 6061-T6 is 35,000 psi.
The hydro test stress is about a 10% under the yield. Since the hydro is intended to test for the material yield properties, IMO it is over design by this amount. This is not necessarily the same as intended safety factor, but it turns out to work like that.
That being said, the aluminum T6 heat treatment condition can easily degrade with heat (in theory even a super fast fill can cause damaging localized heat spots). Therefore, that extra safety factor may be just a good idea with this alloys.
IMO, buoyancy was definitely a consideration with aluminum tank design. The 1972 aluminum 72 cu ft (at a working pressure of 2475 psi) didn't last very long. They were so buoyant you had to put a 5 lb weight in the boot or the bottom of the tank was going to float to much.
Added: Those aluminum 72 were horrible. If I recall correctly, they were buoyant by a couple of pounds when they were full (and they were very tall, before you even put a boot with weight in the bottom). If your back back wasn't tight they would hit you on the head, and the waist belt was always pulling on you. I don't think they were produced for much more than a year. I was surprised to see two of those tanks that one of the vintage equipment divers was using during our gathering in 2006 in Florida (Sand Dog III). It was definitely a low point in Scuba tank design.
So if I'm reading you right there really isn't much extra aluminum in the AL80 but it is better proportioned than the AL72.