Vitamin K (The inadvertent sh!t-stirrer) said:
Mathematically, they shouldn't reduce friction, since surface area contact isn't a factor in that equation. However, since they reduce the actual area of contact, there's less space for surface irregularities to factor in.
The mathematical standard formula for friction:
F[sub]r[/sub] = μN
F[sub]r [/sub]is the Force of resistance (the friction)
μ is the coefficient of friction.
N is the normal or perpendicular force pushing the two objects together (like gravity's pull on the body).
You will note that area is NOT included in this calculation. Less area or more, the amount of friction is the same.
Another function of the groove is that it happens to sit right where any bore scratching may have occurred when inserting a bent axle.