Well, Paul, it's like this: When the crank spins at hgh rpm on an engine the back side of the journals create a negative pressure area, much like taxes due to your income. Similarly that vacuum pulls up the oil out of the crankcase, like the IRS yanks up people's savings, and the oil forms a blob that travels along with the crank. It can be as much as 1/2 the pan's capacity in some circumstances. This adds the effect of additional weight to the crank and to a limited degrees causes a resistance to rotation, but very limited.
The other name for a windage tray is 'crank scraper' because that's what it does. It fits on the top of oil pan and is cut precisely to the contours of the crank throws. They scrape the blob of oil from the crank and thereby remove the parasitic drag. Usually they are a louvered tray to encourage drainback of what little oil still follows crank.
The knife-edged crank journals are supposed to help too, but they do little and then only on real hi-revving engines. Because this oil mass is a function of vacuum behind the throws the knife edging is bordering on silliness except in allowing the crank throw to enter the oil reservoir with less reistance.