Usually, I prefer coincident when used up close and personal, and configs with more space between microphones from farther away. In a way, that's somewhat analogous to antenna design theory.
Yet there are plenty of good exceptions to every rule guideline in this pastime, which keeps things interesting. Although the norm around here, PAs are sort of a strange source in terms of acoustics and big rooms with far reaching PAs do project a higher ratio of direct sound farther into the room. Recently I pulled out the Tetramic and recorded a few things with it from farther back in the room which confirmed my thoughts about prefering to use that particular coincident tool up-close and on-stage.
As always, mileage may vary. Everyone here knows that often simple practicalites trump decisions based purely on sonic preference anyway, and a compact M/S setup may simply be the most practical to rig and run in a given scenario.
[Edit] Looking forward to checking out that Punch Brothers later, Noah. Thanks for the link.