Strictly speaking, yes. If nothing else, there's the overhead of file headers and metadata for each image. Whether it would be a noticeable improvement for most campaigns is an entirely different question, to which I suspect the answer would be "no," but I don't have actual data to back that up. It depends on a lot of things, from the type and number of images used in an average campaign, to the manner in which overlapping images are rendered by the tabletop.