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You can use lighter gauge wire and lighter breakers or fuses to wire the saw to 220v, but no other gains you would notice. Providing it was wired correctly before. (correct gauge wire for amp draw on 120v)
The gains you will see will be a cooler running more efficient motor, faster spool ups and longer motor life. The reason is that with the lower amp draw of the 220v system there is much less voltage loss in the line to the saw. 220v will not create more horsepower or lower your power usage.