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rion: Not really.
What you're looking at is not the time it takes you to row through the gears, but the amount of power you're using as you accelerate in gear.
The shorter the gear, the easier it is for the engine to accelerate in that gear.
Here's a good example... take your basic mountain bike.
Start off in lowest gear (we'll ignore your front gearset and assume your rear-set is eight cogs)... As you start off, you don't have to pedal very hard... then shift, then shift, then shift... as you go faster, you're still using the same amount of power.
Now, if you have less gears... start off in 2nd... then 4th... then 6th... then 8th... you need to pump harder to get up to speed. So even if you lose less time to shifting, you're using more energy to move yourself.
Most modern 4-speed automatics are geared so that you lack for power on the road, but they have to sacrifice somewhere, and it's often in that first gear, which is much longer than on a 5-speed car. That long first gear makes the engine work harder from a stop... it's like starting your bike in 2nd gear... it takes more muscle to start the bike rolling, which is equivalent to more gas wasted in a car.
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Hell, thought of an even simpler example. Staircases. More stairs, with a shorter step height = easy climb. Less stairs with a taller step height = puff... puff... puff...
