No, it would put more weight on the 2nd/3rd fingers... but correct tillering can sort that out in any case.
There are many successful archers who shoot high elbow, and many who shoot level elbow, and many in-between. The key is to find a form which allows you to use your back muscles most effectively - none of us are built the same
It's hard to say which is best for you without seeing you in person so why don't you try both (not at the same time
) and figure out what gives you most consistent expansion/release/consistency.
One clear message from the seminar I was at in Korea wass that the elbow should stay level through the expansion (contrary to what BE suggests) and that it should be slighly above the level of the arrow. See pages 47, 81 & 86 of the presentation below for Coach Kim's idea of a good elbow position. Note he uses the line of the arrow for his analysis reference.
http://www.archeryworldcup.org/UserF...esentation.pdf
Hope that helps rather than confuses.