Wow I am astounded that you guys have 169 posts/ 9 pages fighting over stretched tires.
Grip = More tire on the road is better so running a stretched tire is handicapping yourself.
Drift = no performance gain from stretched tires, however most drifting is done by people with limited funds. Limited funds means you use what ever wheels you have and get what ever tires you have to fit so you can burn through them. I was told this was where the stretched tire look came from and then later VIP car guys saw it as a way to slam their cars even more with out rubbing. It is now a phenom for those possessing JDM tightness(oh yeah and those vw kids as well.)
The stretch phenom is to real performance enthusiasts the same as dayton wheels were to classic car enthusiasts. Although ugly and although engineering facepalms, if the right person thinks they are cool or look good then many many will jump on the bandwagon.
Here is all of the facts, statistics, and resources to back it up.
www.suckit.com