Does Disc Brake Caliper Mounting Position on the Rotors Matter?

Disc brake calipers may be installed in either a leading or trailing position on the rotor, but does it really make a difference in braking performance?
Wilwood's revised 4-piston caliper now allows their 12.19-inch disc to fit inside 15-inch steel wheels. Here's a close-up of the hardware.

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Does Disc Brake Caliper Mounting Position on the Rotors Matter?

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Does Disc Brake Caliper Mounting Position on the Rotors Matter?