I bought the tall one without the rack, then bought a short one off ebay to get the rack and sold the bar onto a friend, so I've had the chance to play with both. Personally I think the short one LOOKS better but if you're buying it coz you'll regularly have someone on the back the tall one's more useful. For the occasional short run I doubt it makes much difference tho. The tall one's also got more leverage if you decide to put a large sissybar bag on.
Matt