Its only ~5% difference - other than the change in rpms, and top speed in the gears, nothing major. It feels a little punchier, and I tried measuring the difference in 0-60, but the change didn't result in any gains I could quantify. Traction has been a little problem though since I got the S/C ,so it only got worse with the lower ratio.
For those who have manual transmission and diffs with higher ratios to begin with (2.93, 3.07, etc.), going to 3.38 or 3.46 has a bigger impact and you will probably notice that change.