I think you'd notice the difference. I would. When driving a stake the radial alignment is awkward. It's hard 'push' the stake. What I mean is, you're not just pounding a stake in, you're driving it. The implication is that someone is steering. With slight adjustments to your blow you push the stake the way you want it to go. The closed hang of a radial alignment makes that more difficult. You can pull but you can't push well with a closed hang sledge.
It's the same driving nails. Every blow is 'driving' the nail not just pounding it in. You not only make adjustments with the angle of the blow but you put sudden twists in the hammer face just at the moment of contact. I equate it to putting English on the cue ball with your cue stick.
Your not just pounding in stakes. You're driving them. You have to steer. And in blacksmithing you're not just flattening steel. You're moving it were you want it to go. Many subtle movements go into it as I'm sure you are aware.