This subject comes up every so often. There was a thread regarding this on MLML a couple of years ago. Someone there did testing by taking a long barrel and cutting off an inch at a time, shooting with the same powder/ball/patch combo ovefr a chronograph. IIRC the velocity stayed pretty consistent until he got to 24" where it started to drop. Based on this, I don't hold with the "increased velocity" idea. The old timers didn't have chronographs, so they worked up the most accurate load for the rifle and let it go at that. If they wanted/needed more energy they would double the charge.
However, a long barrel gives a long sight radius. This is certainly conducive to better accuracy. Those folks from long ago saw this so they turned out long barreled rifles.
My two cents worth...
-WH-