Longer lead
Pros:
- Faster movement (mostly benefits homing)
- More standard
- Weak motor friendly
- Might be slightly more stable (sideways) than shorter leads because of more starts creating more contact with nut (?)
Cons
- Backlash
- Less resolution (unless using 0.9 degree motor but see note1) although this is ignorable since it's still very high. It's already around 5x higher than xy axes using the longest leads2.
Shorter leads
Pros
- More accuracy if you turn off microstepping. it can give you more resolution, but it's useless resolution unless you print with < 0.01 mm layer heights3. Turning off microstepping trades away this useless resolution for increased accuracy. But this comes at the cost of (much) louder drivers.
- Less backlash
Cons
- Stronger motors maybe needed
- Slower homing
The reason why companies prefer longer leads is because shorter leads simply add useless resolution and slows down movement.
Footnotes
1 It makes more sense to use higher degree motors to drive shorter leads than vice versa because of higher torque.
2 0.0025 mm vs 0.0125 mm
3 or using a probe to autolevel, which causes the z axis to go up and down in very small increments