In a way - it will increase the capacity and recharge speed of your ENG system, so you may be able to get 3 boosts out of a capacitor or chain boost if you have a slower one.
If you can already chain-boost with 4 pips engines however it won't add any speed, it may allow you to chain boost with less pips in ENG however.
Edit: It would also allow you to have the ENG characteristics of an A rated distributor on a D for example, which would mean chain boosting but lighter mass, I don't really know what your looking for so just throwing ideas out there.