Not really
JaeP said:
In a nut shell:
Larger tires = more comfortable ride (lower psi)
Smaller tires=more performance (higher psi)
Well, this is just plain wrong, or at least not right. Smaller tires means higher pressure (to prevent pinch flats) and so poorer traction, lower comfort, quite possibly more rolling resistance (due to higher pressure tires "bouncing" off road surface imperfections), and faster wear. Smaller tires do weigh slightly less, and on the front wheel can give a slight aero advantage.
The real "nut shell" is more like: ride at 90-100 psi, and if you get pinch flats, go to a larger size tire.