In my 72 street car, I run 5 quarts for the last 30 years. I change the oil and filter, putting a little oil in the filter and rest in the engine. Dipstick reads full.
On the race car I have a 7 quart Moroso pan and a bigger race filter. One time I didn't have enough oil so used 6 quarts instead of 7 and the car picked up a over a tenth in the quarter mile.
I watched engine masters on this. Engine kept making more power with less and less oil. If I remember right they stopped at 4 quarts. All due to windage.
I think less is better as long as you don't lose oil pressure at rpm.
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