As I said reasonably competent driver not aliens and if easier for consistent lap times means an overall faster race, so your faster. When I up graded from my G29 individual laps were not much faster but overall race time was faster so I'm faster. But there does become a point of diminishing returns of time gained against expense.
I remember an article written by I believe it was pat simmonds years ago telling how during one testing session one driver was tweaking the setup to no end at every stint because at some corner the car was unstable, so he started to have a suspicion about his setup problems being all just in the driver's head. After one stint, the driver called for another setup change, they told him that they had changed the setup but in reality the crew only had changed his tyres, he went out and beated his best time by 2 tenths and after the stint he said that the balance had been better.
You were faster because the new hardware gives more tactile feedback due to the hardness progression of the braking pedal and more detailed and inmediate ffb in the steering wheel, it hints you to drive smoother and more properly. A hard brake pedal with better force progression is making more difficult for you to lock brakes and makes the pedal release more progressive than a G25 stock pedal that has a very weak linear spring that demands from you a very high amount of muscular memory. It just takes more concentration and effort to hit the right timing and pedal smooth progression, but with proper technique, effort, practice and patience all comes together.
Also, when you test for first time new fancier hardware your subconscious makes you to drive in a way that you normally don't because psicologicaly you are predisposed to find an improvement, but it is not because the hardware is any faster. I always discovered that after months out of simracing I was always setting pb at the tracks, just because in the re-adaptation to be back to speed I was less agressive and overdriving slightly less and being more smooth and precise, driving differently as usual made those pb. If you go back to the old hardware and learn to drive with the same driving inputs the laptimes are going to be pretty close to the same.
With better hardware it is easier to be consistent, but that does not mean that it is impossible to be as consistent with old cheap hardware, it is just harder, needs more effort and concentration. So, no, it isn't faster even at a race distance. All what is needed is practice and effort, fancy gear makes it easier, but not faster if driven properly.
It's the same as what happened with ABS and TC until not that far ago: newbies could be faster and more consistent driving with ABS and TC, but experienced simracers raced with those aids deactivated because the car was simply faster without them activated. Now that is changing, but not so far ago the ABS and TC algorithms in most of the sims were simple slower for a skilled simracer.
At the end of the day the ultimate performance is what shows if a hardware is handicapped or not, aliens use the hardware properly, and aliens have shown that a stock g25 is enough to fight for a iracing world championship against other aliens with fancy gear.
Do I prefer fancy gear?, hell yes!. Do I find fancy gear easier to deal and to drive with?, yes. Do I think that fancy gear is faster?, absolutely not!.