Well, in fact it's not just a question of disk space.
The following numbers are stats for total elapsed time of "make
installcheck" over ten trials:
NAMEDATALEN = 32, FUNC_MAX_ARGS = 16
min | max | avg | stddev
-------+-------+--------+-------------------25.59 | 27.61 | 26.612 | 0.637003401351409
NAMEDATALEN = 64, FUNC_MAX_ARGS = 32
min | max | avg | stddev
-------+-------+--------+-----------------26.32 | 29.27 | 27.415 | 1.0337982824947
NAMEDATALEN = 128, FUNC_MAX_ARGS = 32
min | max | avg | stddev
-------+-------+--------+------------------27.44 | 30.79 | 29.603 | 1.26148105195622
I'm not sure about the trend of increasing standard deviation --- that
may reflect more disk I/O being done, and perhaps more checkpoints
occurring during the test. But in any case it's clear that there's a
nontrivial runtime cost here. Does a 10% slowdown bother you?
regards, tom lane