I get the drift of what you are saying, and agree that Wheating did run wide on parts of the bends, but you have over exaggerated by how much. He NEVER touches the outer edge of lane 2 on the bends, which is the only relevant parts; running wide on the straights doesn't require running further distance.
I was lucky enough to be at Crystal Palace for that race and having watched it again on video, it's clear that he runs most of the first bend (after 200m) on the outside of lane 1, and probably on the line between lanes 1 and 2. Had he run the whole bend outside that line (i.e in lane 2) he'd have run a further 3.5m. I'd say he probably ran an extra 2.5-3m.
On the 2nd bend (after 400m) he runs all but the last couple of strides completely in lane 1, if not on the curb. He probably runs 1.5 - 2m further than necessary.
On the last bend he again runs most of it along the line separating lanes 1 and 2. Only as he enters the straight does he veer into lane 2. I'd give him an extra 2.5m on this bend.
So, he probably run somewhere between 6.5 and 7.5m further. That's worth about 1:43.7 had he stuck to the rail and been paced accordingly with no one boxing or jostling him. That is obviously a perfect scenario which rarely happens unless it's a world record pace.
I take it you mean the 2000 Olympics and not the 1980.
I think I know who did that analysis. The same thing happened in 1980, as you happened to mentioned it.
When analysing how wide Coe was on the bends, he ran approx. 812m, compared to Ovett who ran about 803m. Coe was notoriously bad at running wide and giving away vital advantages, but while for Wheating it's because he's so tall and it could affect his stride length running in the pack, for Coe it was that his small frame tended to get knocked around more.
I think Wheating got it about right on Friday night tactically. Kaki's first 200m was too fast in 23.8, whereas Wheating's was a more sensible 24.8.
I got these 200 splits for Wheating: - 24.8, 25.4 (50.2), 27.0 (1:17.2), 27.3
His last 100m was 13.3, compared to Kaki's 13.5.