Wow! Curly Cherry, 2009.
I did an experiment based off his cut dowels in his shop.
In real life, I stacked two 1/3 cord racks side by side and several feet apart with two cord of 100" logs.
Basically 8' x 8' x 4' high.
I cut them into rounds and stacked them in 1/3 cord racks for a considerable loss, less than two cords.
I no longer have the numbers, but something like four and a half of the 1/3 cord racks of stacked rounds.
Then I split them and stacked again, for a gain over the stacked rounds, and if I remember right, about a 2/3rds loss in a 1/3 cord rack shy of two full cord.
From log to round, a loss.
From round to split, a gain.
From log to split, a loss.
Edit: added photos but I no longer have the numbers to go with them.