Does anyone like mechanical wrist watches? The same principals for friction of wheel pivots in bearings can be observed. A watch that is dial up or dial down has all the wheels resting on one pivot or the other. Think of a spinning top on a tabletop times four. Friction is at it's lowest for all the wheels and the motion, or amplitude, of the balance will be at its highest. If the watch is held at crown up, down or sideways both pivots of each wheel will fight friction from resting in their jeweled bearings and amplitude will be at its lowest. Many times more surface area of the pivot is in contact with the bearing than if it is just the top of one pivot.
IMHO how you held a baitcaster during a cast had a much bigger impact decades ago before high-tech ball bearing manufacture and superfine lubrication was invented. I don't think it makes much practical difference today... but I could be wrong.