I think you'll find the pinewood rules limit the all-up weight to 5oz. I know that used to be the limit.
One thing I noticed about the winners back when I was the Cubs district chairman here was that they all had nearly flat wheel profiles... that is, the part touching the track was flat all the way across, rather than crowned. I even tested those two alternatives, and flat seems a bit faster.
My theory is that a crowned wheel tends to "fall into the cracks"... actually the grain, on the plywood tracks, while a flat profile runs over the tops of the cracks.
The other thing I noticed was that all the winning cars were VERY low-profile, and well balanced among all four wheels. The odds-on favorite in every heat was the car that was 'flat' vertically.
One kid came in with a car he 'built' with his dad's help. It was a mere sliver of the original wood glued to a flat sheet of lead roof flashing. The whole body was about 1/8" thick! It won every heat, and the over-all.
LLoyd