Go for it! I think most people will make it a long weekend and for $150 less it will be worth hearing the complaints of those who have a problem!!
I would just consider having your ch start a little later than the norm. I am getting married on a friday night and my cocktail hour is at 8pm. The ceremony is at 4 but I understand some people will miss it, you just have to be ok with making some concessions.
I think it's fine. It's the same as a Friday night wedding and planning your wedding the Wednesday before Thanksgiving! Just make sure you get your STD's and invites out early, especially since it is a holiday and people do make plans. But hey, to save that much money for your dream wedding that's great and the people who want to be at your wedding are going to be there so don't ever let that be your concern. You can't please everything - learn that early on.
