The compressor wheel references the size of the wheel where the air comes in, this is the wheel that you see facing you in the pictures. Smeding offers a very large variety of wheel sizes to fit all different applications, the smallest S300 wheel is the 62mm wheel, and the largest S300 frame wheel is 72mm.
Along with choosing a turbine wheel, choosing the proper size compressor wheel is very important.
The 62-63mm wheels like to be around 400-550 HP these wheels are kind of the catch off of compressor wheels because they perform great at 400-550 HP with minimal lag, this is a common place for most 5.9L cummins to end up because with just some tunes and a turbo you are easily 500 HP or more nice daily driver/ tow set up.
The next size up is the 64.5-66mm wheels, these wheels usually require some extra supporting mods to really enjoy the power they are capable of. With a S364.5 or S366 you are around 500-650 HP and have a few supporting mods like fuel upgrades. These make good daily drivers but you start losing the ability to tow with them because the power comes in rather harsh and somewhat late in the RPM range.
Then, 69 and 72mm, these are the largest wheels offered in the S300 frame. These turbos can be used on light street trucks and racers. The turbos are happy at 600-750 HP and enjoy wide-open throttle pulls!