I once asked a friend if the small wheels on his folding bike affected his speed relative to his regular road bikes, and he gave me a technical answer that basically was no, they don't make him slower. Though I don't remember the technical part.
As for longer vs shorter legs, I guess the crank length might matter if yours are shorter than most, but I don't really know. On the other hand shorter people can have a weight advantage over taller folks, especially when climbing. I am 5'7" and will never weigh much less than 140 lbs barring serious illness.
- Gray 2010 carbon WSD road bike, Rivet Independence saddle
- Red hardtail 26" aluminum mountain bike, Bontrager Evoke WSD saddle
- Royal blue 2018 aluminum gravel bike, Rivet Pearl saddle
Gone but not forgotten:
- Silver 2003 aluminum road bike
- Two awesome worn out Juliana saddles