Granted its tuned right, yes.
Some say that you won't notice. However I have seen it work in many industrial applications and racing. I know many machinists that say it lengthens tool life as well as keeping sharper edge longer so there is less down time to refurbish tooling. The punch press where my old man used to work also uses cryoed parts for extended life. Local diesel mechanic swears he's getting an extra 10/15 thousand miles on the brakes of a dump truck be services exclusively. It helps keep accuracy longer in Full auto fire arms that are shot repeatedly. I personally notice it in the way my clutch springs stay more consistant in ice racing. I actually did a spring swap test recently. Both spring sets from driveline, same weight. Ran the first set Un cryoed and feathering the clutch out of the turn I could get maybe 15 laps before the spring pressure faded and let the lever go limp. Now with cryoed springs I can run the same way for almost 30 laps before I get fade. The list goes on and on. Lotta big time racers use the process, and I have seen it work so If I can afford it I do it