Hey Rook, thanks ! You're absolutely correct. The more you hang off, the less your leaning the bike and the more you're getting a bigger contact patch.
It took some getting used to the lean angle and several factors that have to come together for it to work. i.e. using the heel guard to keep your boot toe nice and firm, pointing the knee down, bringing shoulders down, head into mirror, relaxing the outside arm on the tank and that 45 degree angle lean that brings you closer to scrape that puck.
Honestly for a long time it was my fear that used to kick in because I always felt like the bike was going to tip over or low side but not true if all the above that I'd mentioned, comes together.
I've seen guys go really low but not hanging off the bike so they are at very high risk of a low slide. Oh by the way, hooking or locking the leg onto the bottom of the tank/upper part of seat is also another big factor so you don't feel like you're going to fall over.
Try it and let me if it works.
Good Luck !