Those are the RAM's primary and most important CAS latencys or user control settings for the RAMs performance. Unlike and seperate from the RAM's data transfer rate or speed (800MHz. = 6.4 GB/sec 'speed'), ex. PC26400 800MHz. = 6.4 GB/sec. data transfer rate at 4-4-4-12 CAS timings 'capable' at 2.0-2.1v, for example.

With ALL RAM CAS latencys (timings), the lower the number the faster the RAM's response time becomes. Read the stickies.
 
The answer to your question is hard to explain any other way. When buying RAM, the lower the Latency and lower the voltage required to run at those advertised latencys and data transfer rates (speed) the better quality the DIMMs should be. So, 4-4-4-12 capable is more desirable than 5-5-5-15 for example, but for all intents and purposes, you have to really know yoiur system's performance well and first hand to tell much difference there. HTH.