barit1 -
I was trying to say that I thought reduced thrust TO/CLB gives a worse TSFC, due to lower engine operating temperatures, though I agree with Old Smokey that for the TO phase the difference must be close to b****r all.
But I agree with you both that the time spent at lower altitude in reduced thrust TOs/Climbs is the significant cause of increased trip fuel for these departures.
Interesting point about climb speed too.