I am getting ready to grind up my Super chili,ceyenne & fresno mix tomorrow, I will let you know if the heat level changes, I am now drying more habanero peppers, the difference being habanero oozes oils when cut and the thin red ceyenne style does not.
There, I just tasted my newly ground ceyenne, super chili, fresno combo and in comparison to eating a raw ceyenne, it was equally hot but being dry of course the texture was different, which isn't really saying a lot; ground smells better and tasted better.
Dried chiles contain more capsaicin per unit (be it volume or weight), but it might not taste as hot because (much/some of) the capsaicin is "encapsulated" in the powder/flakes. If you want the full experience of heat and flavour add the dry stuff before or while you are cooking (rehydrate or "Float the capsaicin" to quote AJ), don't sprinkle it on top when you are about to eat it. The same is true for pretty much all dried spices AFAIK.