One of the factors is the minimum distance per step. A machine that is optimized for a 6" diameter may not be able to preform properly with a 20" diameter or a 31" diameter.
When compared to a 6" diameter, a 31" diameter will have 5X more "coarseness".
If the indexer motor is geared properly to give you the required resolution, and if you have space enough to mount an indexer with a 31" diameter, you would get perfectly good results, assuming that your feed/speed/stepdown/stepover settings were correct.