^^ There may be some advantage to the added weight of a heavier wheel for stability. (more mass more gyroscope effect) In the current issue of Road Bike Action, they used the Reynold RZR's on their lightweight project bike, and they said they preferred descending with heavier wheels, so their may be a point (875 grams) where the wheels feel too light for everyday riding.

The feeling that I was alluding to of the bike being quick to accelerate, light and responsive, may lead to somone else having that same feeling but perceiving it as squirrely.

My Zipp 303 tubulars weigh 1175 grams (slight lighter than the current firecrest 303's which have deeper rims) and I love how they ride and corner, They're my favorite wheels for crits and descending. However, I think there's more at work than just the weight, i.e. rim stiffness, spoke count, and most notably the tires.

So in my experience, it may be possible for a wheel to be too light, but for me that point would be below 1175 grams.