Are there any issues if 'Query' event tracking is enabled for Auditing?

We have been making use of the Auditing database and Universe for BOE. We are unable to glean information about queries yet because we have not set this up yet in the CMC. There is a 'Query' event details checkbox that we have been hesitant to check because we are concerned it will blow out the size of the auditing database and slow the system (BI LaunchPad) down. If anyone has experience with this, I'd love to hear about it. Specifically interested in database size changes and performance impact. Also - when 'Query' is checked, are you able to get useful information from the auditing database/universe?