"And the world record speed run for a recip is held by an air cooled
engine."

And the course record at Reno is held by a liquid cooled engine.  However both of these engines were extensively modified and pushed well beyond their original design parameters so I don't think we can really use them to draw conclusions about air cooled vs. liquid cooled.

But it sure is fun to watch them run and listen to the awesome sounds they make.

Tom Gourley