A:Answer It doesn't affect drawing ability, but may affect usability. This may require a bit of explanation.
With any size tablet you can zoom in or out on your artwork in your paint program, so the tablet size doesn't affect the level of detail or precision you get.
The tablets typically map out to the size of your screen, so you have to move the pen farther on a larger tablet to reach user interface elements on your screen. If you're primarily using the tablet for drawing that's probably not a big issue, but if you switch back and forth between different programs while using the tablet you'll find you're moving your arm much more if you use the large (or larger) size tablet vs. the medium tablet. The small tablet has the opposite problem: it's size doesn't allow you to hit user interface elements with precision, you have to concentrate to get it right without hunting.
Larger tablets may have more space for virtual buttons and macro triggers, which may also affect usability.