The trouble is that it's not a lot of space, and it's not as simple as stiffness/weight of the material. Think about something simple like a structural tube. The diameter of the tube has significantly more impact on it's stiffness than it's material. So if you use a 30% lighter, but strong enough material, you can add 30% to the cross sectional area of the tube- which means you can make it a bit bigger in diameter, which will have potentially huge impacts on overall structural stiffness. Note that adding 30% more material will add at least 30% more strength to the part (huge oversimplification here, but just for arguments sake, we'll use that simple tensile case).
Titanium was useful when we needed very high strength on a very large part - a good example is the trunnions that attach payloads to the space shuttle cargo bay. These are large metal bars a little over 3 inches in diameter and maybe a couple feet in length. Aluminum is not strong enough. Steel would be punishingly heavy. (do the math - these things are beasts). So titanium can be a good fit for stuff like that.
But most steel parts were small - things like bolts, rod ends an the like. They tend to be specialized with very specific detailed requirements for things like fatigue, frictional characteristics, and that sort of thing. Because they are small, the weight just isn't that big an issue. Bigger stuff was almost always aluminum, which is actually a lot stronger than most folks realize. At least, the good stuff is.
Titanium also has some other odd properties that make it troublesome in space. I wasn't a materials guy, but they were always bitching about "hydrogen embrittlement" and the fact that large titanium parts do not burn up on re-entry like aluminum does, which presents a debris hazard to people on the ground. (I don't know how big a problem that really is, but people didn't want to be dumping space junk on top of people's heads. Honestly, I just took this on faith - people were concerned about it, but it always struck me as odd.)