I wouldn't necessarily say "useless." The Turbo Coupe weighs about a 1,000 pounds more than the Pinto, used taller 225-60-16" tires and had 3.55 with the T-5. I never felt like it need a lower (numerically higher) rear ratio.
Currently my (Turbo) Pinto has a 3.40 with 215-60-14" tires and is right about 2,500 RPM at 65 MPH in 5th gear. I see no issue. Even when I had a 3.00 and was turn 2,000 RPM at 65 MPH the overdrive served its intended purpose. That being to lower the RPM and effectively save fuel. If a car is normally aspirated it may be challenged, but with the turbo it seems capable. Frankly I never notice a overwhelming significant difference between 3.00 and 3.40 as it related to acceleration. The change to 3.40 was more a matter of drive-ability to a certain speed (limit) - in a particular gear that was most noticeable.
It is all about application (daily driver, drag racer etc.), transmission ratios, and a factored combination of tires size and rear end ratios. There is no "one size fits all." As an example, I know someone with an SVO Mustang (3.73 rear/225-50-16" tires) and he utterly bemoans how low 1st gear (3.97) is in the T-5 (not 5th gear). Were he to have the mentioned 4.11's he would probably be out right screaming.
Tom