For speed-oriented freeride and overpowered condition, no question you'll need a very stable draft, especially foryour weight. Overdrive is a nice match with SType : grunty in the bottom wind range, fast in the upper range, easy to waterstart and easy to jibe.
For ultimate speed performance, you can upgrade to Code Red, but you know that sail already. Or stick a 100% carbon mast (2008 Red Line or 2009 Enigma) into the sleeve of an Overdrive to boost its performance.
However, the Element is a questionable match for overpowered speed-oriented freeriding. Grunty, yes, but draft is not as stable as that of an Overdrive. Test drive an Overdrive if you can before making your mind.