i think you can have too much of a good thing...
now for nanos, frequent and large water changes are good.
in larger tanks, i think that, for example, doing a 50% water change once a month might stress the livestock. it's much better to do it in small increments, like 10% a week. also, when do you DO do a water change, you'll be pulling out a lot fo pods and other stuff of the water column, so again, smaller, more frequent isn't such a shock to that population.
nanos are a different animal, and basically you do whatever works for your tank. i've heard weekly, daily, and i've also heard of people who did weekly, then went to biweekly and their tanks did better. just depends.