Yes, it makes a difference. Compare the results for HSI, HSL and HSV:
R = [ 120 20 30;
170 20 70;
120 140 70 ];
G = [ 40 150 20;
20 110 20;
25 20 20 ];
B = [20 60 150;
190 20 250;
20 30 40];
rgb = uint8(cat(3,R,G,B));
hsi = rgb2hsi(rgb);
hsl = rgb2hsl(rgb);
hsv = rgb2hsv(rgb);
% the vector of interest
hsi(1,:,2)
ans =
0.6667 0.7391 0.7000
hsl(1,:,2)
ans =
0.7143 0.7647 0.7647
hsv(1,:,2)
ans =
0.8333 0.8667 0.8667
MATLAB/IPT does not have tools for HSI or HSL conversions. The HSI/HSL conversion tools I used are found here. There are also others on the File Exchange, though be aware that Pascal Getreuer's popular Colorspace Transformations has a bug in the HSI path and will give the incorrect results.