Supposing simple uniform hashing, that being, any given value is equally like to hash into any of the slots of the hash. Why is it better to use a table of size 127 and not 128?
Wikipedia actually has a good summary of this:
http://en.wikipedia.org/wiki/Hash_table
They point out that some hash functions are designed to operate ONLY with prime numbers. This article explains why powers of two are bad:
http://www.concentric.net/~Ttwang/tech/primehash.htm