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If you can use the drop tank to take off, climb to altitude, and fly to the engagement area, then you've almost doubled the range. How could that not be considered dramatic.It seems to me that a drop tank would not dramatically increase the 109 range for BoB purposes, given that they would have to drop it before engage.
Helpful and worth having. However it's no substitute for the 269 gallons of internal fuel carried by P-51D or 1,270 liters of internal fuel carried by Me-110C.
The other issue is with numbers. The UK produced more aircraft in 1940/41 than Germany. Even with better tactics... would the Luftwaffe be able to gain air superiority?
The Luftwaffe's best option was to continue attacking airfields and to carry out better post-raid recon and if it was going to attack industrial targets to do it at night, when resistance was far less.
I think the big thing here is the the Luftwaffe was conceived as a sort of airborne artillery, intended to operate in conjunction with ground forces and not as an independent force. The experience in continental Europe reinforced the validity of the concept, but when tasked with the job of eliminating the RAF over Britain and inflicting terminal damage via strategic bombing, the LW came up short. The short-ranged 109, which dominated the outmoded fighters in met in Europe, had to deal with Spitfires and Hurricanes over the UK then beat the channel on the way back. The 110 had the range but previous experience gave no indication of how vulnerable it would be facing modern single engine fighters. The German bombers which previously terrorised opponents while enjoying the air superiority lacked the defensive firepower or bomb load to deal a finishing blow to Britain. At the end of the day, the Luftwaffe overreached.
Having several hundred high endurance fighter aircraft to serve as bomber escort was the key component of U.S. 8th AF tactics. Then you've got enough escorts to form a protect cloud around the bombers. Me-110 would be good enough for this mission during 1940 but you've got to have several times the historical quantity available (i.e. night fighters, CAS aircraft and recon aircraft aren't available for bomber escort).