I have tossed this idea around myself for a long time, and have decided against it. Because, the weight savings just isn't there between an aluminum framed EZ Sport and a TE. 2 lbs. difference, max. When I upgraded the Sports wheels, It went down to 32 lbs, about the same as a m/l TE. I run some fairly fat tires on the Sport for comfort, too, and the TE wheels may not carry fatter tires well.
But the main reason is that the TE wheelbase is about 6" longer, making transporting it more difficult and increasing the chances of a front end washout. I went down on the Sport from a front end washout when I was running narrow tires. I'm just not interested in increasing the risk of another washout.
Instead, I have done some serious upgrades to the Sport. Better wheels, XO shifters and rear derailleur, Phil Wood BB, FSA chainrings, shorter cranks, handlebars that are fitted to me, and more. This bike responds really well to upgrades, and now that it fits me, I wouldn't ride anything else. At a recent recumbent rally, I was talking to a TE owner about possibly getting a TE. He was looking at my bike and said "For $2500, TE's don't come with equipment like that". At least, consider upgrading what you have, before trading up. bk