I just got this anecdotal report that seems to support my analysis.
"I thought I would update you on this year's racing. My tri bike has 150mm crank arms. While I have had some good results, age group win at Kansas 70.3, this past weekend I won my age group at the Vegas 70.3 world championships. And it was my bike split that did it for me. I rode the first 15 mile or so and an Ironman pace, getting the legs moving, ingesting fluids and getting a sense for how hot it would be. 105 by race end! By the first turn at mile 25 I was pushing nearly as hard as an olympic distance race. My split for the last 30 miles was equal to or faster than most everyone over 40! Not bad for 58! While not extreme, my position is lower than ever and comfortable thanks to the 150s. Loss of power? Not by looking at my split times. However, I have recently developed a definite 'ankling' motion to my pedalling. Taking advantage of my hip flexors I actively dorsiflex my foot near the top, feeling pressure on my toes. Then from about the ten oclock position I begin pushing forward and down with my foot dorsiflexed. Looking at it in a mirror it is actually not that noticable. BUT the power meter shows a definite jump of 5 ot 10%! I have even placed padding in my shoes between my toes and the top of the shoe to make certain there is no slack when I 'toe up'. In Vegas, as my age group started early, when some of the younger riders caught up to me by concentrating on the toe up action I could stay with them for a bit."
Here is a guy who is doing pretty well concentrating on improving coming over the top.