I would always prefer the medium like in the OP. The small always looked pathetically lame and besides the spoke holes are so close to the axle they collect greasy crud where it is really hard to clean. It also seems to me that the spokes were more prone to break on unforgiving small hubs, but this was long ago with galvanized spokes I guess.

Way back in 1972 or so the front hub cup cracked on our antique SS Rudge. It was 32H and only 85mm wide, so all I could find was a wide flange very rare race hub. The rim was also odd at 635mm, so it was only used a few years. Still have it.

My SA 90 mm drum hubs are awesome and then some. ha