I'm not saying that a bow bow with set cannot be a very fast bow but I belive that to achieve the maximum a piece of wood will give it needs to have a very low amount of set. And theoretically to make the fastest possible bow it needs to have no set at all, this is what I've come to belive though listening to other bowyer's, however for practical purposes, and with no evidence to back it up, I suspect that anything under half an Inch of set May not even have a notable perhaps even measurable effect on performance and that anything under two inches is certainly acceptable
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Yeah, at under two inches of set I'd suspect release/draw/etc.form errors would get in the way of accurately measuring drops in efficiency. Even training wheel bows vary shot to shot by a few fps.