Wouldn't necessarily decrease the highs, Ken. Because of the voltage dividing effect of resistances in series, the sonic inaccuracies of too thin speaker wire would result from the voltage used by the speaker "following" the peaks and dips in its impedance. At points in the high frequencies where the speaker impedance was higher, the thin wire would cause an increase in the highs.

Agreed that the thinness wouldn't cause static or crackling.

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Enjoy the music, not the equipment.