Yes. Increases speed due to longer time on the string and larger draw force curve.

Tru Shot.. is correct, however there really is not very much you can do about your draw length. It is a function of your body size (arm length really.) For the most part you can't just decide you want a certain draw length. Sure you might be able to add a half inch or so and then learn to anchor farther back on your cheek or something, but the minor increase in speed you would get would not be worth the difficulties involved.

Use the draw length that is appropriate for your size and if you want to gain a little more speed, work up to a heavier draw weight. (Or play around with your arrow, broadhead, fletching combinations.) You'll get results that are far more satisfying than if you try to draw beyond what is appropriate for your size.

He'll lose a few feet per second for the loss of draw length. Ths may or may not be a cause for concern (depending on how fanatical he is about getting top-speed out of his arrows.) He can make this up by working up to a heavier draw weight or by adjusting his arrow components. For example just moving from vanes to feathers gained me a little over 3 feet per second in speed out of my bow.

The string loop will cut down on the wear and tear caused by connecting his release directly to the string, which may be more important than the little bit of lost speed.

naw see i'm the friend and i needed an extra half inch in draw so i put a loop on cuzz i wanted 1 and it fixed both problems,c they add a piece of string so it does not shorten the draw