How much wood would a woodchuck chuck if a woodchuck could chuck wood?:hmm3grin2orange: Sorry, I just couldn't resist.
You pretty much hit the nail on the head with the first part of your post Thall (but you already knew that).
These two chain's are presumed identical, so each tooth will make a given number of cuts before becoming "wood dulled". The faster saw is putting those teeth through the wood in less time so will be dulled in less time. However, it still makes the "200" cut's before dulling. The question is; Is it fast enough? If not, then all you have gained is getting to say "Whoopie".
If the faster saw has a 1000 rpm advantage in the wood, I think that in 200 cuts it would gain enough to leisurly change the chain and beat the slower saw back to the block. But since this is all in theory, I could easily be wrong.
As far as those $300.00 race chain's go, you'd loose that bet unless a forign object was hit in the first 3 cut's.
A lot of guy's will try to get a full season out of a chain before working it over. It may get lightly honed with a wet rock sometime during the season, but they are usually far from what most would consider dull, even when they get re-worked. So it could be possible for some guy's to theoretically get 60 to 90 cut's out of a chain.
Race chain, $300.00.
A winning season, Priceless.
Andy