dcon61,
Ink usage reducing strategies (by reseparating images/files using GCR techniques) can be used with both AM and/or FM screening. Implementing whichever option you decide on is first of all a business, rather than a technical question.
For example, using an FM screen, may mean that your presswork no longer conforms to an industry specification like SNAP. That may (or may) not represent an issue for you. Reseparating customer files, on the other hand, may (or may not) make you liable if your customer decides that there is a color issue in your presswork.
If your primary goal is to reduce ink consumption, then, IMHO reseparating images/files using GCR techniques is the first path you should try (rather than going FM) - once you've addressed the business ramifications/issues. One reason I say that is because reseparating images, when done correctly, results in presswork that is generally (not always) indistinguishable from presswork that has not gone through the process, whereas using an FM screen will make for visibly different printing.
best, gordo