For the wheelbase, that's personal preference, but you're right about the consequences.Back to the subject. The missing link here is beside -1 on front sprocket, making wheel base slightly longer (7mm without affecting turning), keeps bike stable. Avoids issues Aaron mentioned. At first when I put 520 kit, 120 link chain, I disliked wheel base being longer. After talking to some racers the verdict was that a slightly longer wheel base is desirable for both acceleration and braking. The pros outweighs the cons (slower turning). You guys agree?
I track my bike with few friends who are on stock gearing. They're all experienced riders and my bike is noticeably faster with -1 in the front. Straight line speed I'm ahead of my friends by 2-3 bike length up to 3rd gear. I have not tried beyond that because I'm already too far ahead by then. So -1 does make the bike faster if whole RPM range is considered like Elk said.
Your gearing is not what made your bike quicker. Unless you're pro level, and tuning your gearing to a specific track. Meaning you're coming off corners at 9,000rpm stock, and sprockets changed that to 10 or 11. Then that'll help, but only until the competition hits 10ish on their bikes, then you're equal. Your 520 conversion, wheelbase changes, or any other number of things are why your bike is quicker.
I never said more power won't help. It certainly will as soon as your front tire comes back down and you can use the additional power. Comparing MotoGP bikes to ours isn't exactly fair considering they can, and do, change things that affect wheelie prevention (Aero, wheelbase, weight distribution). You would have the fastest bike at any track with those bigass winglets they use.