I'd assume it very much depends on your implementation, hardware, and the data characteristics.
Implementation:
An extreme case would be using GPU processing to compare entries. If you support that, having very large nodes, potentially just a single node containing all entries, may be faster than any other solution.
Hardware:
Cache size and Bus speed will play a big role, also depending on how much memory every node and every entry consumes. Accessing a sub-node that is not cached is obviously expensive, so you may want to increase the size of nodes in order to reduce sub-node traversal.
-> Coming back to implementation, storing the whole quadtree on a contiguous segment of memory can be very beneficial.
Data characteristics:
Clustered data: Having strongly clustered data can have adverse effect on performance because it may cause the tree to become very deep. In this case, increasing node size may help.
Large amounts of data will mean that you may get over a threshold very everything fits into a cache. In this case, making nodes larger will save memory because you will have fewer nodes and everything may fit into the cache again.
In my experience I found that 10-50 entries per node gives the best performance across different datasets.
If you update your tree a lot, you may want to define a threshold to avoid 'flickering' and frequent merging/splitting of nodes. I.e. split nodes with >25 entries but merge them only when getting less than 15 entries.
If you are interested in a quadtree-like structure that avoids degenerated 'deep' quadtrees, have a look at my PH-Tree. It is structured like a quadtree but operates on bit-level, so maximum depth is strictly limited to 64 or 32, depending on how many bits your data has. In practice the depth will rarely exceed 10 levels or so, even for very dense data. Note: A plain PH-Tree is a key-value 'map' in the sense that every coordinate (=key) can only have one entry (=value). That means you need to store lists or sets of entries in case you expect more than one entry for any given coordinate.