If you are happy to replace some/all of your tubing whener you do anything with your loop, and by that I mean taking blocks/rad out to clean, reposition things, change loop order or generaly tart about with it, then you'll be fine with 7/16" tubing. So, depends on how often you are planning to maintain, most people leave it 1-2 years.
It certainly won't make any difference in how hard is it is to bleed.
You can however avoid having to replace all your tube when using 7/16" by intentionally building in slack in your tube lengths between components, but then this will not always lead to the most tidy looking setups, and is only really possibly for longer sections of tube really.
edit: You could argue that if you need to be changing your loop round that you would still need to replace tubing even with compression fittngs, so in reality its only really an issue for when you need to work on the loop with the intention of putting it back the way it was, i.e. annual cleaning.