Yes generally he's correct. The pump circulates the water around a pipework loop, the radiators have an internal resistance higher than the difference between their flow and return on the pipe below them, so to get a flow through each radiator it relies on the natural circulation of hot water rising cooler water falling to get to circulate inside them. Closing the lockshield increases the resistance and makes circulation through the radiator even slower.
With a two pipe system the pump pressure is exerted directly on the radiator flow and forces it through.
The major problem with a one pipe is that the radiators don't get as much water circulating through them as with a two pipe, so are cooler and those further down the loop are even cooler than those at the start. To try and improve this the pump speed is often increased which blasts the water around the loop and creates a higher return temperature. Lowering the pump speed can help here, the one pipe loop is generally a lower resistance than a two pipe system as it is simply a loop of pipe, so the pump has less work to do. But the radiators at the end of the loop will get cooler if the return is cooler.
PS I have a one pipe system with 7 radiators on. All lockshields are fully open and the pump is on the lowest setting. Works brilliantly. When I bought the house 25 years ago I always intended to upgrade it but never needed to.