It's well-documented since Smokey Yunick discovered it decades ago that the rotating assy pulls the oil in the pan around it like a rope at RPM.
Net effect being aeration, drag on the rotating assy, and less oil for the pickup.
There are a few ways to prevent or at least lessen that; deep pans, scrapers, trays of either louvered or screened design.
Likewise, correct baffling has been proven to work in all forms of racing.
For non-resto/stock-appearing stuff, I like the biggest pan I can run + a louvered or screened tray.