I can't imagine that it wouldn't. Being a fan of '60's Slingerlands (and fixing up cheapo rescue kits), I've had to level and in some cases restore the bearing edges of at least a dozen drums, which is a lot of bearing edges at 2 per drum.
The difference it made was huge and immediately noticeable.
No more weird wolf tones, no more impossible-to-tune drums. Putting heads on and tuning up for the first time after you've had the edges restored is like getting a new set of drums, only better.