Zero experience at fluting and almost none at all with knapping after the summer of 1989 when I was playing around with it. Mostly commenting so that this will pop whenever someone comments further.
That is an incredible flute, running the length of the stone! It makes me wonder what the ratio of the loss of mass to the loss of strength/durability would be, seeing as how it retains the two rigid ridges just inside of the cutting edges. And also what the comparison would be in penetration before and after fluting. I am sure there are certain advantages in function, even though just plain old bragging rights for sheer cool factor and prettiness and difficulty of execution had to have a little of the spotlight.