I am a firm believer that smaller daily water changes are much easer on the tanks inhabitants than larger ones. As mentioned above, you don't need to match temp or parameters like you do with larger water changes and it's less shock to the system. Also, with smaller daily water changes, the system is consistently cleaner than it is doing larger weekly or bi-weekly changes because waste and nutrients don't really have a chance to build up like they do with less frequent water changes. The end result is a healthier system with less need for as great of volume in water changes per month.
I have a 480 gallon display with 650 gallon over all volume. I have 50+ fish of which several are over 8". There is well over 130 inches (combined length) of fish in my system (probably closer to 160" of fish) not including girth which is a fairly heavy load. I change out 5 gallons a day for a total of 150 gallons a month. That's about 23% monthly in water changes and I never have detectable nitrates despite 3 feedings a day. The last of which is a huge feeding. I also don't carbon dose or run bio pellets or anything like that. To top it all off, I don't have nuisance algae issues and I never do large water changes.
The more frequently you change water, the less overall water needs to be changed in my experience. Especially in a well thought out system with sufficient biological surfaces. That said, every tank is different so determining how much really needs to be changed is purely speculative. It all depends on your parameters and the health of your system.