If you had 490 cfm at the reducer( which you probably don't due to friction, bends etc.) I am told you would lose about 100 cfm overall. Velocity would increase due to increased static pressure. Increased static pressure will most likely cause your fan to work about 25% harder.
HanginIron hit the nail on the head when he said to use a wye w/ 2 - 4" ducts. That would equal a 6" line.