There is a strong selection effect given that people who are competitive bicyclists in general won't ride recumbents since you will then be restricted to HPV competitions.

The tradeoff is smaller frontal area vs higher weight. See http://www.recumbents.com/wisil/hein/Hpvpaper.htm

Re: handling, my Lightning recumbent is way more nimble than any bicycle I've ever ridden, precisely because the wheelbase is shorter and the CG is lower to the ground than a normal bicycle.