Let me start off with the discalimer that everything is subject to
revision after we see how the OLC League actually works next week, but
here is what I think I know so far.

The OLC League rules say the club score is based on the sum of the
three highest scores. So two scores should be better than one, even if
one is slower.

The start altitude should be optimized by the scoring algorithm for the
highest speed. So, it could be anywhere in the initial climb in the
example task, as long as it is higher than a point in the final climb.
Parts of the initial and final climb may be included, depending on
which is faster and/or further. The final climb is needed if you
started your initial climb on the upwind side of your home airfield, as
you should to make sure you don't land out off tow.

The task speed will always be computed by dividing the distance by 2.5
hours, so it does not matter if you hang out over the home airfield, or
land if you finish early. If you extend the leg downwind, the extra
distance should only improve your speed, as long as you stay below the
top of your initial climb.