A smaller body filter, may have more pleats and actual filter media, than a larger body one. So many people think that the engine responds to what you want. The fact is the engine responds to what it wants. An air filter comparison would make it easier to explain. If your engine needs 650 cfm of flow to feed itself, and the stock filter flows 650 cfm, going to a 750 cfm flowing filter will do nothing for power. The oil filter is no different. Only so much oil will enter and exit the filter. You would add more volume and a negligible cooling effect, but unless your clogging the filter more media will not filter a molecule better, only a thicker/finer media. If you look at a Class 8 truck engine, such as a CAT or Cummins, the Oil filter is much larger, however the inlet and outlet are much larger as well. Im willing to bet the correlation to that of a car filter is about the same amount of filter per oil flow.
Also said, many "oversize" filters do not carry an ADBV, which even on a "eye to the sky" mount will drain the filter of quite a bit of oil.