I hesitate to say anything, as this subject is often like the Unitarians arguing w/ the Unitarian Universalists, meaning there are a lot of tightly held beliefs over a not-so-visible issue. I would suggest trying it yourself and see what you like. Myself, I normally go for the shortest time to get the job done, but stay away from times of under 6 minutes if I can. About all I use for film developing is D76 (or the TD-16 version), Rodinal and Acufine, w/ 90% of the developing being D76/TD-16. My film is always Tr-X, so that simplifies things. With the latter developer, I prefer to use it full strength. A lot of people prefer it at 1:1. I just prefer the look of full strength developed negs, no other reason. Most people prefer Rodinal at 1:50 or 1:100 dilutions, I have a development scheme that gives me what I want at 1:25. Again, it's just for what I like, no other reason. I also don't like very long developing times as that just gives me more opportunities to screw up.
It basically comes down to what you prefer, and the only way to see which is which it is to try it and see. I have no idea on what the chemical reasons are for preferring one type of scheme to another, really. There are a lot more knowledgeable people on this forum than I when it comes to the hows and whys of the chemistry, but I don't need to know all that in most cases. Testing things myself and seeing what the results of that testing are is something that works very well for me. I would certainly stay away from times below 5 minutes for obvious reasons.