User blog comment:FairyRaven/Fairy Tail Chapter 375: The Supernatural, Review and Commentary/@comment-24536822-20140314141913/@comment-7418318-20140314143259

Not really. The only one against whom it would make a difference if it's God or Dragon Slaying Magic of the same element is against another Dragon Slayer.

Against any other enemy, it'd just be a little shift in the colours and names of the spells without any real difference.