Hi, Ian,
I`ve built several steam driven paddlers and also some screw steamers and I generelly can say: a flywheel is not necessery for a paddler engine with two double acting cylinders.
Even with a gear reduction from 1 : 2 to 1 : 5, a flywheel you must not installate, the weight of the paddlewheels is sufficient for the smooth motion of the engine.
Even a engine for a screw steamer in many cases doesn`t need a flywheel, it depends in the weight of the screw and also in the precision of the engine. Generally for simple and cheep engines like Wilesco a flywheel is better for smooth running, but the precision engines like Marten& Hoves, Anton etc. doesn´t need it.
Thomas