I wouldn't say that it is likely to cause tire wear. A typical tone ring will have at least 60 'teeth' on it. So the ABS computer sees 60 pulses per tire revolution. The computer can take the reading, make the relative speed calcs, and make an adjustment well within one tire revolution. What will slow down the response is the mechanical bits. They have inertia and don't move as fast.
Least anyone think that I'm a rabid proponent of ABS, I unplug the rear-only ABS on my Suburban when in the dirt. It's simply too stupid to be able to deal with variable traction conditions and it caused me some damage to the truck in one instance.