| I know exactly what you mean, when I hang off, I get less lean angle and if feels really slooooww, not looked at speedo but dont think it is actually any slower, I reckon its because the bike is more upright and your body is more vertical so your head is further from the tarmac, hence feels slower. Not sure if this makes sense....
and I've just got back from a ride..yipee SUN!! | 
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