If you are running an endurance race and need the
oil capacity , then go for it.
Or you could put on one of those titanic diesel submarine filters and go that way!!!!
If you reduce the fluid resistance and add a quart of
oil to your system, I can see benefits to this in extreme circumstances, but I can also see over cooling in this setup as it might be used in a street car. Over cooling can be as nearly as destructive as over heating.
Steve