Going 11.5" is really beneficial if you are looking to get over 26" OAL. Extra inch, so can get there with an A5 buffer setup. 12.5" allows for any buffer tube/brace setup (minus folders, which is a no across the board). I personally have no reason to run a vertical grip on an AR pistol, so not as much as a concern for me... but I know some look down that route.
Both of my AR pistols are 11.5". I wanted a piston upper for my first pistol setup (eventually will be suppressed), and Adams Arms only did 11.5" uppers in their P1 line (was available, decent price, and didn't have their forend that I am not a fan of). Have no real reason against the 10.5", other than looks. My PSA Classic build is a 11.5", but more because I wanted a specific look. The guys in Heat didn't run 10.5" guns...
Main reason for that build, and just because.
Sub-10.5", that is where you can run into more reliability issues.