^^^ Yes - less weight, better gas mileage.
Bigger engines? Higher displacement at low revs with mad power is achieveable at low price points. Once you start trying to spin that crank faster, high revvin' engines are more expensive to develop (but less so to manufacture - but still $$$). The E92's redline above 8k is a good example. High revvin' supercars with V8/10/12 that rev above 8k are another.
Extending that power band between shifts is a golden rule - the more time you're on the pedal and not swinging that lever, the faster times you'll get. But now with dual-clutch transmissions getting easier and cheaper to manufacture - it's gets less critical. But that's another discussion in itself...
