Having worked for one team that had a large, detailed coding standard - 100s of items, references to books that introduced another few 100 items, plus a whole bunch of undocumented standards that get discovered in code review, I can say that even after a year in the place, my coding performance was impacted, and coding reviews spent an enormous amount of time on style things.
In another place I worked at, there was perhaps only a dozen coding style items, every developer had their own style of working, and the crazy thing was it worked. You got used to the other coders' "accents" after a while, and the good thing was you didn't need to think too hard about the coding standard, nor waste much time in reviews.
So yeah - it depends.