Yeah, if you're racing with a sanctioning body (NHRA, SCCA), you obviously have to read their rules regarding roll bars and conform to them. If you're wanting a cage that's more than sufficient for open tracking, then what I described is fine. Getting away from thick, large diameter tubing will save weight without sacrificing safety, but rules are rules. If the rules stipulate a certain tubing, you're stuck using it.
The cage in my '89 Mustang coupe is 2"x.120" wall for the main hoop, while the rest (door bars, front hoop, halo, rear bars, etc.) are 1 3/4"x.095", and it's plenty stiff and safe for open tracking. There are no rules for open tracking, though...