The 'ding' doesn't change size, no matter what club you use.
The blue striking area changes depending on the forgiveness of the club, not really sure if the meter speed has anything to do with the size of that area, more just the speed of the swing meter bar.
I've always wondered as to why the shot zone shrinks as you hold the power up, I assumed it was just a timing thing. I've never really cared enough to look it up.
The balls you're using determines some speed issues as well with the clubs, not again, not the size of the ding or hitting area.