The other big differences are in cornering and in overall contribution of the tires to spring rates.
Shorter sidewalls are stiffer, so you get less tire squirm in cornering with a shorter sidewall.
Taller sidewalls give more room for tire deflection over bumps, so they contribute substantially to the overall spring rate of the suspension. In racing applications, a shorter sidewall is preferred so that the spring rates can be better controlled by changes to the suspension.
In my case, it came down to looks. Being old school, I like the taller tire profile in blackwall. It recalls the look of late-60s street Mustangs.