Very good visual example Jeff!
The other thing to add onto Jeff's post, as well as bboy's followup:
As you guys realized, the higher VE is, the less you need to push the car. More importantly, the cars temperment increases dramatically to increases in cylinder pressure due to that VE (I.E. you knock much easier).
It goes to show, while you're tuning, that you'll have relatively "conservative" timing and/or fuel values while VE is high, and you may have a sudden ramp in timing, near the top, while enrichening AFR (for a road race setup it's ideal as it promotes MUCH better egt control.. a very critical thing since you don't want to over work the cooling system on longer track sessions), or a leanout with not so much of a sharp rise in timing (promoting a flatter torque curve with a more gradual drop off) ultimately improving the power band.
Another thing is a rather large increase in transitional torque response running >11:1. Maybe it's just me, but I've always noticed a more "sluggish" feel to a car in the 10's vs a car even at 11.1:1. All good things here folks, keep the conversation going!