There's always physiological principles ladies and gents. (basically what Mike said :P)
Raising the arms expands the rib cage and diaphragm area (straigher/arched spine and pectoral muscles stretched and pulling up) so that you can inhale a larger than ordinary amount of air which lends to quicker recovery. Conversely, bending over does the opposite (rounded/concave spine, tight lats/pecs) which hinders rib cage expansion and diaphragm area.
Although I must admit that whenever I'm out of breath I like to do the latter... we all do. But it is lends to slower recovery.