The smaller diameter wheel will make you a little quicker.

Ok, say you are in first and it will take you up to 32mph with the smaller wheel. It will get you to 32mph faster than the bigger wheel.

With the bigger wheel it will take a little longer to get to 32mph, but will take you past 32mph. See what Im saying?

The concept is like 410 rear end gears and 373 gears.

410 gets you to top end faster but with a lower speed.
373 or whatever takes longer to get to top end but has a higher speed.