Perhaps I'm as sad and old, because I've also been through a similar mathematical exercise to that in my time, with similar conclusions.As the sad old get I am I made up an Excel work sheet to experiment with different cable sizes etc using the formula given. It became apparent that using a B32 MCB the cable lengths allowed for ELI were nearly the same as allowed with a 5% volt drop. So if one works as if there is no RCD in circuit and limits the lengths of cable to ensure the ELI will be within limits then in the main the volt drop will also be within limits.
However, that approach is obvioulsy of no use when, like me, one has a TT supply. Because of the way the figures for ELI for RCD operation is derived, any voltage drop less than about 180V (230v-50v) will probably still meet the requirements for RCD operation! ... so, with a TT installation, one actually has to think explicitly about VD limits.
Kind Regards, John.