okay, I'll clarify. I'm talking about titanium to replace items such as king pins and turnbuckles
In that case, yes, I definitely agree. That it is only a little more than half the weight of the steel parts while yielding roughly the same (and sometimes higher) tensile strength makes it a clear choice for upgrading.
It’s also 1.64 times the strength of 7075.
You can cut more away from a Ti part and still retain the strength of a 7075 counterpart.
That's going to depend on the specifics and temper of either alloy, and will always be a trade-off of strength in one category being a weakness in another. Harder temper will increase abrasion resistance and reduce flex, but will also make the metal less malleable/ductile, and sometimes lower the tensile strength (T6 has higher tensile strength than overaged T7 temper). 7075 is the base alloy, but the properties can be changed drastically by altering the silicon content and temper. Additionally, whether the piece is cast, extruded or forged matters tremendously.
Titanium is an interesting metal. Though not quite the super metal it is often believed to be, it does have properties that make it highly desirable for certain applications (and wholly inappropriate for others). Ti has a very high corrosion resistance without being specially treated, such as anodizing aluminum or bluing/hard chroming steels (Interestingly, the high corrosion resistance is actually a product of the metals high reactivity). One of its weaknesses, though, is that it also has poor natural lubricity; Ti moving parts tend to gall and seize badly if not specially treated and/or lubricated.
As for strength, the primary advantage of Ti is the strength-to-weight ratio; There are many stronger metals, but they are all considerably heavier. Ti is not capable of withstanding the punishment that high carbon steel alloys will, and a Ti part, though lighter, must be substantially physically larger than many steel alloy parts to achieve the same strength due to its lower density. Ti is also fairly brittle in most forms; it has a very high yeild strength compared to many aluminum and steel alloys, but when pushed beyond it's limits, it tends to snap/shatter rather than deform. That is because Ti yield strength is very near its tensile strength in most grades (~80-90%), whereas the yield strength of many steel and aluminum alloys may be 40, 50, 60% of tensile strength.