Until you start tuning... it's hard to say what will happen.
in the purest sense... the smaller nozzle will increase velocity, and SHOULD make you go faster. But... in the real world... a smaller nozzle will drop your pump area... and in turn you have less "Push". Also... the smaller pump outlet will put more pressure on the engine, and in turn... it take more HP to push it. So... if you "Bog" the engine a little... and you fall out of it's peak power... you will develop less thrust pressure.
Basically... when you race... you have a nozzle with replaceable rings, so you can tune the pump for velocity, and pressure. AND... that can all be dictated by the HP you are making that day.
So... in my opinion... for a recreational rider... it's wasted money.
With that all said... what I like to do is... if it's basically a stock engine... I will use a Swirl impeller, and go up one degree past recorded... and then open the pump nozzle 1 to 2 mm. That normally will give me better out of the hole performance, and still gives better top speed.