Emilgil,
I understand your question, and it is an interesting, not to mention, a legitimate concern.
I am not familiar with the optical design of the 120 lens, which, I presume, has changed over the years. However, I believe the answer to your question lies in whether or not the lens elements move simultaneously together in the same direction when focusing, OR whether or not they move at different rates, or in different directions when focusing.
1. If the entire glass configuration moves simultaneously when focusing, then using the extension tubes would be no different than using the helicoid.
2. If there are lens elements that move at different rates or directions while focusing (as most modern 35mm macro lenses do), then you should experience a difference, however slight.
Ex&le, assume for the moment that the elements move at different rates and directions while focusing - if you add 30mm worth of extension tubes with the lens "focused" at infinity, it would yield a 1:4 magnification, but the optical elements would be in their "infinity" position, which would yield different quality results than if you used the helicoid to focus the lens out to 1:4, since then, the optical elements would "adjust" to different positions, most likely better optimized for that particular distance.
In either case, I would use the lens' helicoid to focus out as far as I could, and then add extention tubes after that.
Michael H. Cothran