You know I always thought that would have made, sense, but rumor has it the gearbox will not survive so well if driven spiritedly in first gear.
Although it seems to me that if the tranny was ok with first gear open in a heavier car (think Austin A90 Atlantic) you would think it would be OK in the lighter car as well.
I had a BN1 with the original 3 speed and the blanking plate taken out of first. It was really really low, and seemed to drag going in and out of gear, I messed around and used it a couple of times, but didn't feel much was gained as any jummp in acceleration was offset by the extra time needed to shift the not really quick BN1 box.
I too thought the higher rear end unblock first idea made sense, but I think even with the taller ratio don't know if the first would be that usefull.