Are there any conclusive studies? From a quick Google search, there actually seems to be very little data. One recent
study from UC Berkeley that pops up often actually doesn't show whether lane splitting increases or decreases the probability of getting into a collision. It does note however that out of ~6000 accidents reported during the period they looked at, almost 1000 involved lane splitting at the time of the accident ...
Personally (as a car driver) I am not a fan of this practice. I often see them doing it on freeways at significant speed, and unless it's one of those super-loud Harleys, you often just don't see them coming. I have been startled more than once by a bike suddenly appearing next to me, and I have also once seen a motorcycle scrape along the body of a car in front of me because the gap suddenly narrowed.
Regarding the OP, I can only shake my head. Public roads are not the place to do "drag races".