Yes, but we often don't feel what we think we're feeling! The patch changes Mario's speed when he hits a brick, which will have implications for when he hits the ground.

I'm far from an expert player, but I really think the physics are identical once the patch is in place. I sometimes wonder if it was really a mistake at the factory—something they didn't catch until 20,000 PCB's in, and didn't want to change in revisions for consistency.