Italian fellow name of Bernoulli, I believe, has some good words to say on the subject.
Consider the original force per unit area I mentioned. That's where the term PSI comes in. You can haul more air through a larger pipe, but the pressure drops, because you're not capable of real compression through the open sides of the impeller. This means that what's being carried along with the air will also drop. Reverse is also pretty true. Take your 4" hose, as I often do, and use a standard shop-vac adapter to 2", and notice you can pick up pencils, chunks of scrap, and even the bolt you dropped, and were looking for. Don't be frustrated and think you'll have to rummage through the cyclone, those things are just upstream of the adapter, if they made it that far, where there is no longer enough force/unit to carry them into the bin. I rely on this when looking for dropped objects in my shop.
As mentioned, the "standard" unit now moves 1200/CFM at (some PSI) or in reality, at some vacuum, measured in feet of water, inches/millimeters of mercury or furlongs per fortnight. Now since the old 650 CFM @ 8 types were the standard which spawned the 4" hose, I'm speculating that a 5" hose may be best for the 1200, because the impellers are still pretty leaky, if you read the mfrs specs. A 6" hose, as mentioned, would be 2 1/3 or so times the area of a 4, negating the additional chip-carrying power.
Oh yes, don't ask about 2" hose and 2" sanding discs for the lathe. Makes me veeery angry.