I don't race, but I make more power and go faster than I need to go, without removing any governors. I don't install carburetors that bypass my governors, either. My engines are reliable, I do not spend hours trying to tune a motorcycle carb, and I do not worry about my flywheels exploding.
If you want to build a race engine, buy another one, put it on the bench and build it the right way. You should not modify part of it, ride a while, then build some more. Someone might get really hurt, or die.