Read through the thread and figured I'd throw in my .02 just from personal experience, so forgive me if I step on anyone's toes here.
I didn't really understand the effects that spawning had on fish, other than the obvious: colors, moods, aggressiveness, etc. The effect it has on size/growth however has been presented to me through my Blue Acara. Back in July of last year I picked up 7 total fry around 1.5" After raising them for a while I had a pair form, so I removed all of the other Acara, selling of 3 of them (females) and kept 2, one male and one female for a sort of "back up" lol.
Back on topic; The mated pair has produced fry several times but I have never let them raise them past the point of 1/4-1/2" and they only spawn every few months, so they are definitely not a fry factory. You cannot however miss the differences between them and my other "back up" Blue Acara's.
First off, Barbie and Ken:

This is my mated pair of Blue Acara; they measure out to roughly 4" (female) and 5" (male). They show a much more aggressive overall demeanor and are not as tolerant of other tank mates, I have tried many different type of tetra as dithers for these guys and in the end, they all get killed/eaten. Also, this pair is more "colored up" than my other non mated pair, even when they are not in their mating mood/dance or when protecting fry; they are just generally more colorful (more spangles, color differentiation, bars, etc).
My non mated pair, Minion and Large Marge:

This is the non mated pair of Acara, I originally only planed to keep 1 of them (Minion) but end up keeping a second female (Large Marge) just to have a back up in case something were to happen to my other female. Minion measures out to roughly 5 1/2" to 6" while Large Marge is every bit of 7"+. Both of these Acara are very mellow and haven't really shown any signs of aggressiveness and also tend to stay dulled out most of the time.
Both pairs of fish are on the same diet (minus the fact Barbie and Ken, regularly pick off tank mates like feeders), that and they have very similar water parameters (with .5 degrees F., similar PH, etc). The "back ups," Minion and Large Marge, do live in a larger tank, however, and have more aggressive tank mates. This is not to say however than Barbie and Ken live in a small tank, I just wanted to note any differences in upbringing, as it has been mentioned previously above.
While you may not be able to tell from the pictures (sorry for the quality, phone shots in the middle of the day), in person the size/color difference is very clear, so clear in fact that when I show people the Blue Acara in my main tank, they don't realize they are the same fish from the 40 breeder in my man cave and they trip out even more when they find out that they were from the same batch of fry. The difference in size is actually quite amazing, more so the notable 3" difference in the females, while the males growth has clearly slowed because of spawning, it is clear that its no where close to how much the females has stalled. Only time will tell if their spawning has affected their over all potential size, or if Barbie and Ken will some day catch up, when I separate them, or when they stop spawning for whatever other reason.