Yes there will be a difference in both the point of impact & the recoil factor. That will be because both rounds will probably be loaded to similar velocities.
If the manufacturers have tried to maintain the same velocities, you will probably notice more recoil with the 124gr round.
I reload my own and use the 115gr bullets from Berry's, because they are a little cheaper. My carry ammo, however is 124gr or 127gr because it expands better.
While the recoil is difference is noticeable, I feel it is not appreciable, so I don't think the recoil factor should be an issue. The point of impact will vary depending on the distance and velocity of your round, so it will just take a little experimenting.
hope this helps.