Brian,
Assuming the rest of the ignition system is capable of consistently firing the wider gap, the wider gap is preferable to a narrow gap. This is especially true with stock (lean) air/fuel ratios, and the rationale is that a wider gap improves the odds that a combustable mixture will be located within the gap. In the "bad old days" of auto emission systems and carburetors, we had ignition systems that could fire gaps of .080" or more for this very reason.
Personally, I like to set my plugs near the max of the specified range (ie. a loose .040" / snug .045" with a spec of .038"-.043"). Since I change plugs yearly, I don't have to worry about electrode erosion causing the gap to grow to the point of misfire. Anything wider, however, may have adverse effects on starting and high rpm operation. If you go to a fine wire plug like the Autolite or the Iridium, you can open the gap a little more since the fine wire electrode reduces the amount of voltage required to fire the plug.
Jerry