Size does matter, but only if builders of wind flags utilize the rod and ball system for the pivot.  “MTC DOES NOT”.  They call this “Extreme Sensitivity this statement is not always associate with “ACCURACY”That concept relies on a pointed or flat-topped post and a slick plastic material or a single ball bearing for the top of the post reducing the contact area resulting in minimal friction and resistance.  However, some side contact area still exists and perhaps more with a larger diameter pivot pin.  MTC utilizes 1/4″ diameter post on most of our wind reading tools.  This robust application ensures adequate strength and with the accompanying dual caged ball bearings, friction and resistance is minimized and consistent while being more than adequate to handle our flags weight.  Most utilize some sort of plastic for the main body of the flag and around the pivot area.  This is the least expensive system to manufacture with acceptable results.  It works well and is widely used by target shooters.  Perhaps mostly by being more available than any of other systems.  But they are plastics and subject heat and sunlight dimensional and color changes.  Unless all of these surfaces are held to close tolerances and highly polished they can potentially grind away at the soft contact surfaces.  In other words, the consistent motion of the flag will eventually ware or enlarge any softer material such as plastic.  Most of these post and ball wind flags require some off-balance or added resistance to reduce the fluttering and twitching.  Appears to be a direct contradiction to “EXTREME SENSITIVITY”.  I did find a wind flag that eliminated the ball bearing at the top of the post and relies solely upon the anti-friction properties of Teflon or Delrin.
The down under flag is a fine wind flag, a little expensive and the spare parts are very costly, but many of them are in use all over the world.  This flag utilizes miniature stainless steel caged ball bearings.  They are expensive, efficient and usually require sophisticated machinery to hold the close tolerances required for retaining them.  This wind flag currently advertises that they are the only one using this system. 
The position of the pivot post is important and it has a direct effect upon the wind flags performance.  Centered pivots with equal shaft length in the front and back begin life with an inherent handicap.  They share the force on each end required to move them.  These flags will usually be over-sensitivity or confused and the extra length on each end will have to overcome the wide swinging distance and necessary energy or inertia required to change directions.  Resulting in a swing past or further than necessary of the actual wind energy.  Pivot position has evolved toward the front 30% of the wind flag and with the front of the tail being close to the pivot point.  This results in a faster and more accurate representation of the wind’s actual direction without the overswing or searching confusion.   Also requiring less leverage and energy from the wind to move the flag.
It is understandable that many may consider these statements as overreacting, but where do we stop making improvements and accept the normal?  Those of us that are pursuing any continuing improvements will always challenge the current situations.   Satisfaction comes to those that push the technology limits and stay ahead of the curve.  It is sometimes dangerous but well worth the effort and risk.  Please review the detailed view of the MTC product offering and take notice of the standard features included.