SheetRock Ultralight drywall was introduced last year as a premium product. Interesting to see it's already being sold for nearly the same price as standard drywall.

From a letter to its customers:

USGs SHEETROCK is made in North America. United States Gypsum Company ("USG") has been manufacturing wallboard in the United States for almost 100 years.

* USG does not make wallboard in China.

* USG does not relabel or rebrand wallboard from China.

* USG does not use Chinese wallboard demolition waste in making our
wallboard.

Here is a link that might be useful: US Gypsum

I picked a few sheet up by mistake the other day, but decided to keep them for a mere four pence extra per sheet. I tell you what, my back was delighted! (I'm getting too old for those seventy pounders.)
I can't speak authoritatively about strength, but they certainly seemed just as strong. I think most of the strength comes from the paper and the thickness anyway, not the mass of the gypsum.
Being the cheapskate that I am, I may stick with the original weight, at least for walls. But if the price was the same, I wouldn't hesitate.

four pence = US6cents

Wow..... Why have I not heard of this stuff. As a self employed handyman, I do just about everything, flooring, tile, painting, decking, fencing, and assembly of many things. I would say about 70% of everything I do requires drywall repairs and texture matching, I find it odd that I have not seen this stuff!

Here is a link that might be useful: Burnet Handyman

Full disclosure: I am affiliated with USG and wanted to provide some additional information to this discussion.

USG is currently launching its new SHEETROCK Brand UltraLight Panels in a phased nationwide rollout which started in August 2010. You can find more information about the product as well as a product availability map at theweighthasbeenlifted.com to see if it is currently in your area, and if not, when its coming to you.

Here is a link that might be useful: SHEETROCK Brand UltraLight Panels