More years ago than quite a few of the members have been alive, I piloted Rat Racers for a couple of racing teams (a few times -- the engines kept getting better and more expensive quickly -- too much so for limited budgets). For best speeds, we pulled the handle in close to the chest when flying level, and kept it close in (raised to head level, more or less) for passing, to shorten the lines (at least, when speeds were not greatly different among the planes in the heat). Most of the pilots already held their handles in two hands in those days (still running three-up at the time).
I can get a copy of an Excel speed chart for 60' lines, with various two-lap timing marks, calculated for speed, if it's wanted, I'll have it forwarded to your eMail, just PM me here with the address you want it sent to. I think it's a fairly old Excel version, like in Office 97, if that's a problem.