Yes and no.
Basically no, because the amount of extra CPU time spent sending shares to the pool has almost zero effect on the hash rate.
However, the icarus driver is a poor choice by sidehack for even a 10GHs device.
It's design was when a 1diff share took ~20seconds and 1/10 of a second was considered a negligible delay.
So, while it could be done better, reducing the number of shares sent to the pool will have little if any effect.
PS. I wrote most of the current Icarus driver code ...
Awesome... thanks for the info, and thanks for the hard work!
Ive always been mostly a hardware guy.... i'm somewhat responsible for honda's being chipped.. (reverse engineering the ECU's and OEM rom, tuning software testing, etc...) I guess I take after my dad =)