* Almost - there is a small reduction due to the change of height of the combined centre of mass if you hang off into the turn but it's pretty small. It might be significant on the track when you're racing and trying to squeeze every iota of grip out of the tyre, but for most of us, it's a negligible factor.
But it does increase ground clearance
Unfortunately, the smaller you are, the more you have to move off the machine to reduce its own lean angle because your own body mass is a smaller proportion of the combined mass of bike and rider.
I don't know just how you hang off but one of the heaviest bits of the body is the head, so if you adopt a Marquez-style head-down, elbow-dragging riding position you may find you're able to lean the bike less.
Am getting much better on the body position - still don't like sticking my knees out but I guess that with two bad knees, I'm more wary than I should be!!