A spark plug that produces a more energetic spark, like one with a larger gap, will cause a faster flame growth. This has a similar effect to advancing the ignition timing, since most of the combustion will occur sooner.
The result of this is more power and better efficiency at moderate to high engine loads where more advanced ignition timing is beneficial. The likelihood of knock will be increased though. More spark energy at low engine loads might actually hurt efficiency though, since the ignition timing here should already be tuned to achieve maximum brake torque with the recommended plugs.
Here's a figure from a study that compared traditional copper plugs (Type A), to a platinum/iridium (Type B), and a plug with three ground electrodes (Type C). With air fuel ratios near stoiciometric (1.0), there was no significant efficiency improvement, but the platinum/iridium type plug performed much better in very lean conditions.
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Here's what the flame looks like for each plug. The iridium/platinum produced the fastest flame growth in lean conditions, but not significantly faster near stoichiometric AFRs. The three-electrode plug performed the worst, but its gap was smaller than the other two.
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