Higher maximum heapsize increases RAM useage but also can boost overall performance.
Lower max heapsize decreases RAM useage but can decrease system performance as well.
Just depends on how big your apps are and how much RAM they require.
It also depends on hardware too.
Quad core phones with 2gb+ RAM changing heapsize won't change performance that much.
On lower end devices it can make a difference.
I always did it on my old Samsung Galaxy S. Set it to 48mb.
Current devices are using 128mb already