One only needs to compare North America to South America to see the fruits of Protestantism versus Catholicism, once it spread to the New World. It’s not a theoretical exercise, the experiment was already performed and we can all see the results.
This is a gross simplification that disregards dozens of factors. If it were true, then you'd be laying abortion, homosexuality, rampant political-correctness, obesity, and who knows what else, at the door of Protestantism.
In whose favor? Do you seriously want to defend the direction North American culture is going?
Besides, you're also comparing a Spanish model of evangelization, colonization, and culture, with an English one. If you imagine that the English Reformation had never happened, North America would still have turned out very differently from South America.