Great question and ive put a sticky on it to encourage some responses on this one.
As you have a few years experience on me Tony im saying this with all respect

Also no one thinks your a bully!
I think asking this type of question now has highlighted your growing maturity as a martial arts practioner. Your starting to get to a level now where you can start mixing it up a little with senior students as you have quite rightly realised you can take a hit and give one back.
Our instructor (for the benefit of other users on here, Mr Chris Beanland - soon to be on Martial Edge video ) said to me that when you start asking yourself this question it means you should start dealing with sparring partners differently i.e. not beating the crap out of every person in front of you etc. Different sparring partners can offer various opportunities in my opinion.
For example, we have some heavyweight guys that we know can take hits - at the same time we have some younger blackbelts that can hit us from impossible angles but cant take much of a hit. So in this example I would be fighting the kid - working speed and evasion - whilst my heavyweight buddy id be stepping up a gear.
The challenge for you now is to grow your fighters mind as it were and start making these tactical decisions 20 seconds into a sparring session.
Thats my two cents worth. But now its on here and its public I will look forward to our next session
Opening it up to everyone, what are your thoughts and opinions on the subject?