Someone posted a link recently, about microbubbles in coolants, to improve the cooling, but the paper was clear: any air normally injected decreases performance.
Which makes sense: the resulting coolant would have a higher heat resistance.
Now if you were suggesting to use compressed air to locally improve the flow, in the form of an air activated, pressure booster water pump, I think it would be worth looking at, but I'm afraid that it would otherwise be a waste of time.
I dunno, maybe I'm wrong. If you can make something of it, let us know!
As for the enlarger/reducer, keep in mind that water is a mostly incompressible fluid, so the flow characteristics will be different. Otherwise, you're talking about a nozzle, and we've covered that a few times (run a search here).
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