On an 8" wheel, I have ran as narrow as 225, but prefer a 245. That keeps the sidewall square to the wheel and the sidewall is then pretty much centered. This allows for equal lateral deflection when cornering. For a 7" wheel, I prefer 215, but have had to use a 205 due to tire availability. On a 9" wheel, the max I have used is 275 and the minimum is 245. I changed to a narrower rear tire on a 9" wheel to reduce some rear grip and dial out some understeer.
I question having lap times reduced by having any type of tire stretch. That runs counter to every book I have read on suspensions and tires, every article I have ever read in a racing magazine, and counter to every class I have taken on suspensions and tires. Also runs counter to my experience in racing my own cars and crewing on a race team. I have spent decades around track cars and have never seen anyone go fast with a really wide wheel and narrow tire. I have seen people get by with a wide tire and narrow wheel, but the handling was never great. Turn-in suffers with that configuration. Every bit of data I have seen points to having a sidewall that is as close to square to the wheel as possible. All of my experience has always been around road race, autocross, and rally cars. I can't provide any input on drag racing.