The difference is too small to have an impact on the edge outcome. What matters more is the feed rate, grain direction, and dust collection.LloydM said:Would the 1/2 bit be less prone to overheating and burning than the 1/4?
If you are concerned about burns, use a two-step approach: rout the first circle a hair larger, and then reset the circle jig to cut to final diameter. More work, but better chance for a burns-free result.
Same technique applies to routing a pattern on the edge.