Dragon rider, that only holds if you take the same set of limbs and put them on one or the other riser. In doing that, you change the length of the bow because the riser length is different. If you put the limbs from a longer bow on a shorter riser, it will increase the draw weight about 2-3#, because the limbs will be flexed more at the same draw length. Likewise, if you took limbs designed for the shorter riser and put them on the longer bow, they would lose 2-3# because they aren't being flexed as much on the longer riser.
In bows of the same length and draw weight, the bow with the short riser and longer limbs will be a bit smoother to draw. Some feel that the shorter limbs on the longer riser would be a bit quicker, but that's not always the case. The longer riser bow, because it has more mass in the riser, would reduce hand shock a little more. Most of these differences are slight in mid-length bows, say 60 inch recurves, for example.
There's a much bigger difference between short and long bows regardless of how they're put together -- say 52-inch and 64-inch recurves respectively. The shorter bow will stack more quickly, have greater finger pinch and will generally not be as consistent/forgiving as the longer bow. Now, design also has a lot to do with it. Shorter bows can be made to ameliorate most of those problems, and not all longer bows are smooth and consistent, but that's the way to bet.
A good book that deals with a lot of these types of questions and a lot of other technical and practical stuff is Timeless Bowhunting by Roy Marlow. Good luck.