It's looking like the difference between the two grinder sizes boils down to physical size (in terms of the space a machine and its belts take up in a shop), longevity and avialability of belts. I knew going into this discuss that 72" belts last longer.
They aren't twice as big as 48" belts though, as some have stated. Their half again as big. So if 48" belts are have to a third as expensive, the longevity issue cancles out. It would mean belt changes more often, a slight annoyance.
A belt twice as big as a 48 would be 96". I'll be putting this into a one-car garage that's mostly filled (my wife would say crammed to the gills) with woodworking tools, so space is definitely a consideration.
Finally, there is the avialabilty factor. As Enzo's most recent post shows, there is decent avialabilty for 48" belts, though not all brands carry all models in 48".