Do you guys know that Schwalbe have tested this theory for off road tyres and found lower rolling resistance on wider (not sure the relevance of wider, but my theory is the wider the tyre and contact patch the smoother the road will be if you take the ground height as the average of the contact patch), and lower psi tyres. Using a power meter to measure work and riding the same distances at slow speeds, over and over again. And also on controlled surfaces.
Another interesting point to look at is the angle at which bumps hit the tyre. The bigger the wheel, the more the bump will transmit force upwards, as opposed to backwards. Or create lift as opposed to drag. This is obviously more significant as the bumps get bigger. When the size of the bump equals the radius of the wheel there is no lift-just a very big drag force which brings you to a sudden stop. Lift is slightly recoverable- drag i dont think is at all. Hence the theory of the 29'er being faster than the 26 inch.
This angle of force also helps determine the recovery of energy. If you ride up a bump (very small ramp) then you are converting forward kinetic energy into potential energy stored in the tyre and potential energy in lifting the rider. To recover that potential energy you need to ride back down something like a ramp as well. But falling back onto a flat surface does not transfer the upward force from the ground on impact into thrust.
The force will be roughly perpendicular to the surface at the contact point, so only negative gradients (downramps) create thrust.
To test this ride off a kerb. That reduction in potential energy from falling does not increase your forward velocity in the same way (at all) as riding down a ramp/hill.
Now why do we always hit ramps and fall down onto flats, not ride up ramps and ride down ramps? Well actually we don't.
But to get lift you have to have a positive gradient of the surface you are momentarily riding. I.e all bumps have a positive gradient when you are hitting them.
But there is nothing special about points to land. The tyre may come back down on the flat, on another bump (positive gradient), or, if your lucky, onto a downward ramp. The average of all these gradients will be close to zero as all three posibilities are almost equally probable at high speeds. (The smaller the bump and the lower the velocity and the shallower the gradient the greater chance you will roll back down the other side of the ramp/bump, but at high speeds and with sharp bumps you will always clear the back edge of the bump and therefore land on a random gradient. (actually the up ramp of the next bump seems like the most likely point to hit)
Note- more compliant tryes will create less lift and will deform more and therefore increase the chance of contacting with the other side of the bump (the down ramp) which is the only object which can be used to recover the potential energy transferred by lifing the bike and the rider.
Also energy recovery would also seem to be higher at lower pressures, as an elastic body like the tyre is going to have less of a damping effect than a body like a loose rider which probably has close to 100% damping.
On another note vertical compliance in your frame should also help reduce rolling resistance, as bump impacts will be at lower force levels and transmit less energy into lifting the big mass, the rider.