This same question comes up from time to time. I've been shooting High Power since '98 in the US Navy. General consesnus on the rifle line is that there is NO benefit to having a FH on your rifle as evaluated on the target.
BUT, there CAN be a negative. Namely, it has been observed that the TORQUE used to keep the FH on plays a role in the harmonic of the barrel. Guys who cranked them on with crush washers, using plenty of torque to get the A2 timed right, saw some loss of accuracy over a bare muzzle. Those guys that use a peel washer and only enough torque to keep the FH on and timed properly have no problems. To prevent this problem, the weapons off of the van from Crane all do not have FH on them (bare muzzle, no threads).
So, the short answer, it won't hurt you if it's installed properly for ACCURACY, but it can hurt you if it is not.
Tom