small external wastegates are fine for heaps of boost.
in fact if you want insane boost just neglect to have one at all !!
the larger wastegate sizes give better boost control. i would go as large as you can afford / find. ( up to a point of course)
The larger the engine/HP of the application means more exhaust airflow that needs to be metered to maintian a certain boost pressure. So a larger gate can bypass and control that better.