High flanges do have a couple interesting advantages:

1. The spoke holes aren't as close together, so there's a bit less likelihood of breaking a flange.

2. Because of the line the spokes take as they leave the hub, you can do a 3-cross spoking on a low-flange hub, but if you try 4-cross, a spoke actually crosses over the head of an adjacent spoke, which causes premature spoke wear and also makes it a royal pain if you ever have to replace a spoke. With high-flanges, you can do 4-cross just fine. Four-cross is overkill for many riders, but it gives the purely strongest wheel because the pull is most in line with the force applied to the hub and, because the spokes are a bit longer and at more of a tangent, it gives a bit more comfort.

These aren't killer arguments for high flange, but if you break wheels or want something bombproof they are worth thinking about. I race track and am able to feel a meaningful difference between high- and low-flange hubs, but it's dependent on how you spoke the wheel, spoke tension, and choice of rim. The difference between straight gauge radial and 3-cross double butted spokes is at least as significant. For rolling on the road, it's harder to ascertain. As for comfort, the pro peloton gave up on high flanges back in the late 60's as low-flange hubs improved, all in pursuit of a more comfortable riding wheel. Now the spokings and rims have made many low-flange wheels a harsher ride than any high flange ever was, illustrating that your tires, rims, spokes, and hubs all affect riding comfort, and probably more or less in that descending order.

If you can ride a very bling set of high flange Phil's, I'd go that way in a hot second. What is it about hubs that personal bling rises in direct proportion to hub bling but not any other component bling?