Well, I think string weight places a role but there is also a balance between stored energy and the amount of energy it requires to move a limb.
For straight bows: shorter bows store less energy but require less energy to move their limbs, long bows store more energy, but require more energy to move their limbs.
I believe that at some point, as a bow gets longer, the amount of stored energy proportionally to the bow limb mass will decrease, and therefore reduce its performance. There is a happy medium between stored energy and limb mass. For straight bows, considering most woods, most draw lengths, and most limb designs this is between 66 and 68-70 inches. Obviously (as I said above) limb damage, set and other things also effect performance.
There have been a lot of "same design, different length" tests for straight, self bows over the years and most often the fastest bows tend to be between 66" and 68".
Gabe