Yes, there is some difference. More water, more heat and more dangerous.

This is a picture of a linear accelerator. The water cooling is for very strong electric magnets. The tubing seems like 1/4"ID polyethylene, and each magnet draws more electricity than your gaming rig. The trick here is to use narrow piping to enhance flow speed.
If you insist there's a difference in computers:

SLI cards are connected in parallel to ensure both are cooled at the same level. This is essentially the same to the picture above. They need to control the performance of each magnets so that each behaves the same to all others. Same in this case. SLI cards working at different temperatures is bad. If you want to make best of it, you must have both card operating at same condition.
Alex:
What comes in doesn't disappear. It's called mass conservation. Unless you are doing things related to first picture, you're bound by this law. Actually wide tube slows flow speed. By shrink it, the water jets out faster, even though the liter/min remains the same. It doesn't really matter if you use an outboard cooling system. Some people use large piping as internal reservoir. Zalman's nozzle accept 10-8mm tubing, so eventually you are limited by nozzle size. Large != better when you want to move liquid faster. It's the gph (gallons per hour) that matters. If you have a pump with low gph, then it will not work no matter what tubing size you choose.
Of course there's a limit about how narrow you can go, and it usually depends on how good your pump is.
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