No, that setting is used to control package distribution from the site server to the distribution points. Once clients receive a advertisement they should start download a package from the nearest dp asap. Do you have any BITS policies configured(in a GPO or on the computer client agent).
If you are doing a large scale deployment then remember that you can configure the office config.xml file to only download the package to the LIS (local installation source). This will give you a change to download the software and spread the load. Then you can create a another program that will start the installation, but this time all action will take place on each client.
Check this article for more info on config.xml -
http://technet.microsoft.com/en-us/library/cc179195.aspx#ElementLIS
Kent Agerlund | http://scug.dk/members/Agerlund/default.aspx | The Danish community for System Center products