gofastman: I believe the different diameters of front sight will work as follows:
1) Good 20/20 eyes with good (young folks) night vision, the smaller 'bead' will allow a slightly finer aim. As your eyes age, or in lower light at any age, the small size will 'fuzz' out and be harder to pick up than the larger size.
2) The different sizes WILL change your elevation (thinking slugs) some. The Point of Impact (POI) will move in the OPPOSITE direction of the way the front sight was moved. If the sight gets taller (moves up) your POI on target will go down. If the front sight is moved right, your POI will go to the left on target. If the "light pipes" slide into a holder, such that the bottom of the pipe is at the same point in relation to the barrel centerline (which I believe they do), then going from the fine pipe (.090") to the fat pipe (.135") will raise your sight center by .045". On a 28 in barrel, with another 5 or 6 inches across the reciever to your eye (for a total of lets say 33" from Ft Sgt to eyeball--your rear sight) it takes .009 in. to move 1 MOA (minute of angle). For a .045 in displacement vertically of your front sight, you can change your POI on target by .045 in divided by .009 in/MOA and get a change of 5 MOA. This would be 5 in at 100 yards, or 2.5 in at 50 yards, etc. In changing from a .090 to .135 pipe, this should also be Downward (or, you'll shoot lower with the bigger pipe). If you have a 22 to 24in barrel, you can use .008 in /MOA.
3) The center of a shot pattern should change by the same amount. So in going from a .090 to .135 in Pipe with a 28 in barrel, the center should be about 2 inch lower (at the standard 40 yds).
4) That's all "In Theory". Your eyes may see things differently, but it seems to work this way for a lot of people, and very consistently with rifles and pistols. If with a shotgun you don't reference your bead at all, it likely will make no difference.
I've shot an Ithica 37 for 35+ years. It has an orange/red "Raybar" front sight. That's a trade name for what is basically a "light pipe". I do notice it. I always assumed I made use of it. I've not tried it, but maybe Rick and Tom are right, and I'd do as well without it. It does stand out on an after sunset late bird shot. My deerslayer barrel also uses the same material for a fronit sight. It is triangular and was the cat's meow for a late day shot in earlier days. Now, it fuzzes out pretty bad, and I think I'd see a Post in the same material better.