[Daniel Bingamon]

So I found a Q calculator on the web and used numbers for a 10" x 1/4" wide 30 turns Antenna Loop which calculates a Q of 285. Then I ran my first calculation of 0.5 inches x 1" with 272 turns and it calculated a Q of 586. Both of these with the same 424.38 Microhenries.
So, based on what you said the tradeoff is that the smaller coil (in this case) has a better Q which nearly doubles selectivity, however the smaller more selective coil looses much of it's ability to be a loop antenna due to size. I would have to rely more on an external antenna in that case.
34 years ago I recall some on these things on the Amateur radio exam but that was some time ago and I didn't use it much.