you may loose 3~5 mph top speed with the same track profile. I would gear down some when you have the chain case apart . Every polaris sled is geared way to fast out of the box. 24/41 is good for a 1" track , 24/42 for a 1.25" if you go taller then this 23/42 or 43. My feeling is that anyone that know this sport would be willing to pay slightly more for a good running well built long track conversion , def not as much money as it cost to do the conversion.
I run a 2003 prox 700 136" with a 1 1/4" studed ripsaw with it geared 23/43, My last sled was a 2001 xc 800. If you do a long track kit to your 2001 xc I would find a set of 2002 and newer tunnel cooler strips and add the aux cooler kit also. Long track kits make a sled run warmer because the snow at the flap is not getting kicked up into the cooler, they stop about 10" short of the end of the tunnel. I know the polaris kit is big money but it comes with longer coolers , and one piece rails.... well worth it in my book. I run a tracks USA kit on my prox , well built and take a beating without failer.