Does a larger lava pillar produce a lot more light?

Question

I'm planning on making a beacon, using lava source blocks at the top, encase in glass.

Topdown view . . .

G G G
G L G
G G G

. . . where G = glass, and L = lava.

Then I thought to myself, would having a beacon like this . . .

G G G G
G L L G
G L L G
G G G G

. . . be visible from a lot farther away? Would it be worth the effort of producing more glass for the 4x4 pillar?

Answer

It would make light travel a whopping one block further in the three directions you add the lava to.

Given the lava physics in Minecraft, light intensity and radius are the same. A candle gives 14 luminance and 14 radius. Lava and sunlight have 15 luminance instead.

Here's how light would spread if lava had 5 luminance:

     1
    121
   12321
  12GGG21
 123GLG321
  12GGG21
   12321
    121
     1

Here's the same with a 2×2 source:

     11
    1221
   123321
  12GGGG21
 123GLLG321
 123GLLG321
  12GGGG21
   123321
    1221
     11

...but that's a waste. Here's what the same amount of resources (4 lava sources, 12 glass columns) can get you:

     1     1     1
    121   121   121
   12321 12321 12321
  123G32123G32123G321
 123GLG323GLG323GLG321 + 1 lava source
  123G32112G32123G321
   12321 12321 12321
    121   121   121
     1     1     1

Also be aware that light also spreads out vertically: a light source one square above ground level is what will give maximum luminance at ground level. In other words, extending the pillar up does not give you more light at ground level.

Remember each level of the 16 levels of luminance (0-15) appears to 20% darker than the other.

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