Andre,
There is some real wisdom there in your post, and it squares with my own experience over the years.
I found myself on the horns of this dilemma when moving from my 560S Sherpa to the Nomad. With drop handlebars, I "could" have ridden either a 565M or a 590M. At first blush, the 565M would have been the right choice, but I went with the 590M and have not regretted it, and fitted a 60mm stem to accommodate my (compact) drop handlebars with brake levers far forward in a normal position. I have the same fit as I did on my Sherpa, and am able to sit more easily upright on the larger 590M frame than I would have on the 565M. The 590M is taller, which made it easier to get my handlebar-tops at the same level as my saddle-top, which I prefer.
Thanks to the generously sloping top tube, standover clearance is generous enough to be a non-issue in all conditions including off-road, so no loss there in choosing the larger frame.
One factor making the choice harder was the difference in weight rating (carrying capacity) between the 565M and 590M. The smaller frame was made "stiffer" thanks to the shorter tubes and therefore had a 3kg higher rating. I picked up a bit of that "lost" capacity by going with an M frame (shorter top tube better suited for drops) than if I'd gone with an "L" (long top tube frame really too long for drops in my case, and a 5kg lower cargo rating). I detailed a bit of my reasoning here, under the "Sizing" heading:
http://www.thorncycles.co.uk/forums/index.php?topic=4523.msg22073#msg22073 Andy Blance thought the larger 590M frame might be a bit more stable. I'm glad I went with it and am happy for my needs.
A larger frame can also mean more of the carried weight falls within the wheelbase of the bike, which can aid stability as well.
For the few
racing bikes I've tried but not owned, a small frame seemed an advantage for out-of-saddle sprints. The shorter seat tube and lower top tube made it easier to rock the bike from side to side without fouling my knees, and the lower top tube made it easy to get a nice, low position -- all of which is unsuitable for my style of
touring. For the touring bikes I choose to own instead, I much prefer a larger frame if given a choice, so long as standover is adequate and my positioning is good. Horses for courses, really, and suitable positions for each.
All the best,
Dan.