The amount of torque a fastener needs is tied directly to the outside diameter of the threads.
Another thing of importance is whether the threads are dry or lubricated.
Because a lubricated thread is much easier to turn the amount of torque needed is much less.
Another thing that limits the amount of torque is the material the threaded fastener is screwing into.
Torque values are usually given with a steel to steel combination in mind.
If a steel screw is being screwed directly into an aluminum part the torque will be quite a bit less before the aluminum threads are damaged.
This link will take you to a post I made about the subject.
http://www.enfieldmotorcycles.com/forum/index.php/topic,10638.0.htmlThere is always a big debate about whether using a torque wrench is necessary with many very experienced people saying a torque wrench is a total waste of money and time.
While I don't agree with them, I admit that I don't bother when I'm tightening screws, nuts and bolts that aren't doing important things. Things like horn brackets, light brackets, and mud guards don't rate in the "should torque" group.
Things that are holding the engine into the frame, holding the wheels in place on the other hand should be tightened to the correct torque because if they fail some bad things can happen.
The drain plugs that screw into the aluminum crankcase and are easily stripped out by over torquing are another thing that IMO needs proper torquing and the cost of torque wrench beats replacing the threads for the drain plug.