I believe that, in general, a longer bearing surface is good for accuracy, but there are other more important variables, with jacket uniformity and overall bullet uniformity being paramount.
There is one parameter that we, the reloading public, take for granted, and that is bullet concentricity. If the center of gravity of a bullet is not within the axis of rotation, then the bullet will be unbalanced, wobble, in flight. This is not condusive to best accuracy. Devices have been built for shooters who wanted to determine just how good their bullets where, but these devices are expensive:
http://www.bulletinspector.com/vern_juenke_history.htm
You can buy a this version for $1850.
http://www.bulletinspector.com/products.htm
This is an interesting quote from the seller:
No one here at BulletInspector has any idea of how this works.
I have a number of "vintage" rifles and when shot with modern ammunition, the groups are better on the average than what I have seen reported in pre WW2 and even, post WW2 literature. I am of the opinion that this is due to the microprocessor revolution wherein manufacturing technology is making better, more consistent bullets. Before Total Quality Management, manufacturer's allowed a certain percentage of junk to go out the door. Production lines were not under control, it was just accepted that a certain amount of junk would be caught by QA, and some would be shipped. You can see this in the tale of the low number M1903's in Hatcher's Notebook. The Army was aware that it was shipping defective rifles, but instead of fixing their production lines,figuring out why they were making bad product, the Army decided to raise proof pressures at the end of the production line. Their idea was to induce a greater stress on the rifle and weed more weak actions. But they were smart enough to understand that they were still shipping defective rifles, that would pass the proof test, and fail when enough regular pressure rounds went down the barrel. It was a lazy man's way of fixing a termite problem: just paint over the termite infested wood and leave the termites be!
This was the thinking of the times, and I will say, into the 1980's, when the Japanese, following Demming's theories on Quality Management, were beating the stuffings out of American Manufacturers. Competition proved that producing junk was unprofitable, even if the quantity was small and the average consumer was unable to discriminate between good and bad. Manufacturer's cannot stay profitable, for long, in today's world, unless the production line produces good product, each and every time. Microprocessor technology and modern manufacturing engineering have created for us, much better bullets, than what used to be available at the same price level. Old guns can shoot very well if fed good bullets. Our modern bullets are just great, even the hunting bullets.