Having fewer points of engagement leads to more backlash in the system, this is apparent predominantly in climbing gears and technical situations. That being said, from our experience you very quickly become accustomed to the hub you are running and it rarely crosses your mind when riding after the first ride of a new component.
The more points of engagement, the smaller the area of contact between pawls and ratchet ring, along with the fewer pawls engaging at the same time. This is in order to fit more into the same space, often leading to reliability issues especially as parts start to wear.
With the R4 we have tried to strike the happy middle ground of having enough points of engagement to feel sharp but also leave room for long term reliability.
Of course there is also the topic of pedal kick back and suspension interaction, which could be a full article in itself.
To keep things simple, a higher engagement hub has the potential to give more feedback due to less backlash before it engages. In general, we think there are a myriad of more important things to worry about in how a bike rides.