Yes. You'll save the planet's beaches because you use less silicon (files are smaller so you can use smaller cards).
Okay, sarcasm aside, the answer is still Yes if you don’t need a full-sized JPEG. Image quality should be a little better and you'll hit the buffer boundary far less often (and maybe never, as most of the Nikon cameras can shoot 100 images continuously at any JPEG Medium or JPEG Small setting).
Of course, you can't print such images as large. This solution only works if your normal output is something like Facebook or the Web.