The 16" will collect more light than the 14", that's for sure.
For planetary observation (DSO IS a different story), more light is useful to bring out tiny contrasts at high magnification. The max usable magnification however depends on the seeing conditions of the day you observe. Under normal seeing conditions you won't be using the 14" to its max theoretical magnification. Whether you observe with the 14" or 16" the max usable magnification will be the same because the apertures of the scopes are fairly close to each other (for example if comparing a 4" and a 14", the 4" might be limited by its aperture rather than seeing conditions). No matter the instrument you use (14" or 16") the max
resolution depends only on the seeing conditions of the day you observe.
However the larger the aperture, the more sensible to seeing conditions a scope becomes. Therefore on a average night I do not expect the 16" to outperform the 14", they would perform the same, the 14" might even take a slight edge.
To exploit the "full power" of the 16" will take one of those perfect seeing nights like it occurs once a year or so where you can push the magnification to stupid numbers. You'll enjoy the extra light from the 16" but I reckon the contrast you have with a 14" is good, so i doubt the 16" will make a significant difference on the details you manage to see.
At this stage, maybe more important than aperture, is quality (& of course collimation) of the optics. If you've got a mass-produced 14" mirror, you might want to consider getting yourself high quality mirrors rather than getting a 16" upgrade.
In my opinion, the upgrade isn't really worth it for planetary observation.
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