I wouldn't expect you will get much better mpg going to the lighter trailer. It is all about aerodynamics, especially if you're towing on relatively flat ground.
X2. It's more about aerodynamics than weight unless you are towing uphill all the time. You'll save a little in gas getting the lighter trailer moving but once the weight is moving the difference in rolling resistance is minimal.
If you're looking at selling what you have to buy a new smaller TT just to save a gallon of gas, it's not worth it. The loss you'll take in sale or trade will never be recovered in fuel savings.