I have used the shorter "keel" style for years..... long before I started quilting <G>.
The longer "keel" would be very difficult to manuever around curves, and turning corners would also be "interesting".
BTW, this foot was originally called an "edge joining" foot. It became popular back when there was a trend to use several different trims/ribbons in groups on vests/jackets. By placing the two different trims on either side of the center "keel" you could center a decorative stitch on the two to sew them down at the same time.
I also love this foot for stitching just at the edge of something. Like a pocket on a shirt. If you can move your needle just a bit to the left, the "keel" can ride the edge of the pocket and your stitching can be very close to the edge and very straight. <G>
The "keel" on the right side of the foot, often called a quarter inch foot, is an edge stitching foot. Wonderful for all sorts of things. <G>
These are two feet that I will always have in my collection for any machine I own.
Pati, in Phx