I don't think there's any real harm in reducing to 1-1/4" but I don't think you'll save anything significant. I'll bet the difference in cost to be no more than a couple dollars. 1-1/2" might be easier to find.
I run my PM-1 beckett off a mag18 with 1" hose. I actually recommend you don't step down the tube diameter for the pump to injector line as it is surprising how restrictive it can be.
The flow through a tube increases four-fold when you just double the diameter. I.e., a 1" tube can carry 4x the flow of a 1/2" tube. And so on.
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-- Tony
My next hobby will be flooding my basement while repeatedly banging my head against a brick wall and tearing up $100 bills. Whee!
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