Probably not because it has little effect on prop speed. That is driven more by aircraft drag, prop pitch and diameter, and torque (which is driven by winds and rubber width, NOT hook length).
Hook distance has a little more effect on energy stored and returned, but not large until you get to silly extremes.
Note, many students seem impressed by the slow turning props on well tuned planes and ask how its done. Actually you don't directly control prop speed, its a by-product. As you make your plane more efficient by losing weight and minimizing drag, it takes less power to pull the plane through the air, you can use thinner rubber with less torque, and the speed naturally drops.
You can also slow a prop on a given setup by increasing the prop pitch, but then you have to increase torque (increase rubber width so less turns possible) to fly it and the net trade off for flight time is a wash.
Concentrate on light weight, efficient trim and matching prop and rubber to the plane. Slow prop speed naturally falls out of that.