1. Some interesting stuff in here.
2. I think that they are basically a wash. If you move the bar up to the top of the traps, the moment arm is potentially longer if you can't hold the back angle more vertical, a situation that will eventually occur. The lower back position makes for a more horizontal back angle, but this is compensated for by the shorter distance between bar and hip. If everything behaves itself, they are about equal since the moment arm is measured at 90 degrees. The problem is that novice lifters are less likely to be able to control their back angle, so the low bar position is probably safer for more novices, and that is one consideration in my decision to use it. The main reason, of course, is that the more horizontal back angle works more posterior chain musculature, and is more useful for getting strong.