We experimentally investigate the influence of interfacial tension on liquid/liquid microflows for fluids having large viscosity contrasts. A coaxial microdevice is employed to examine the situation where a less-viscous fluid is injected in a sheath of a more-viscous fluid using both immiscible and miscible fluid pairs. Data obtained from high-speed imaging reveal a variety of regular flow regimes, including dripping, jetting, wavy, core-annular, diffusive jet, mist, and inverted thread flow patterns. Flow maps are delineated over a wide range of injection flow rates, and an original methodology based on periodic pattern analysis is developed to clarify relationships between interfacial dynamics and fluid properties of multiphase materials. Specifically, we show the smooth evolution of droplet size and spacing at the transition between dripping and jetting flows and develop scaling relationships based on capillary numbers to predict droplet flow morphologies. For similar flow conditions, reducing interfacial tension leads to a significant decrease in droplet size. For miscible fluid pairs, diffusive jets are observed at low Péclet numbers, whereas wavy core-annular flows are obtained at moderate Reynolds numbers for both immiscible and miscible fluids. This work provides a unifying description of the influence of interfacial properties on viscous microflow phenomena.