There is a guy at our local track that swears his car runs a tenth quicker, with 2 quarts less oil in a 7 quart pan, I dont know personally but I'm sure its worth some gains however I think his claim is a bit inflated.
If I had to make a desicion between the extra capacity, verses a quicker et or more power? I'd take the extra capacity, besides if your running a good pan with scrapers, windage tray, trap doors etc, the extra oil shouldn't be a problem.
I dont want to be the quickest, just the most consistent.
Charles