I think so..as someone said that if you want the photo to be viewed a lot then it's best to post when your followers are also logging into the site. But how do you know exactly? What I can say is that there are quiet hours and busy hours. So I guess that must be when those in the US, EU and Australia access the site. I myself live in Thailand and I tend to post just around midnight my time, when I am least busy.
I haven't paid attention to it yet.
It wouldn't make much difference for me anyway as I usually post my shots between 8pm and 11 pm CET. That's the only time of the day that I have to myself :)
I think the time of day does matter. However, I tend to post my pictures in the early morning before I get busy with my day. Therefore, I do not think I will change my posting time during the winter. In the spring and the summer, I may post later in the day, as I tend to garden early in the morning.
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It wouldn't make much difference for me anyway as I usually post my shots between 8pm and 11 pm CET. That's the only time of the day that I have to myself :)
Not just on here, but on other sites like deviantart and flickr as well!