Some think there’s little difference while some prefer the 14.5", whether pinned or not. I like them both and have both right now. I also have SBR’d lowers.
If I had a quality 16", I wouldn’t change it just because I wanted to try a 14.5". If I was buying a new rifle, I’d take it all into consideration.
Just like some guys prefer a 12.5" to an 11.5" or a 10.5" to an 11.5", it’s the same for the 14.5" vs 16" stuff. Keep in mind, the difference between a pinned 14.5" and a 16" with standard flash hiders is 1.3". But, some of us use specific muzzle devices for whatever reason, so the difference is often the full 1.5". I’m running A2’s now, but will be switching to Surefire flash hiders when my can is ready. I have them sitting here, I just need to install them. On that same note, if you’re using the Surefire brakes, the 215a, or one of the AAC blackouts, they add a considerable amount of length and that 14.5" which is normally 16" with the extended flash hider is now 17" (give or take) with something like a Blackout. The 16" is now 18" or 18.5" overall instead of the 17" or 17.3" (or whatever it comes out to) with the A2.
I know what works for me. The only time I need to change anything is when I replace the barrel. I don’t change out flash hiders/brakes to try new ones anymore. I put a hand guard of my choice on and stick with it. If something needs fixed on that handguard, I would remove it and send it in. Since only the barrel nut is affected by a perm’d muzzle device, the handguard itself is removable, at least my RIS II’s are and my URX’s were with the right wrench.
I have an ACOG TA31 RCO with the M4 reticle I run on my 14.5". But, I also run 193, Mk262, TAP 75gr, TSX and others in addition to 855. It works fine and I know the differences from everything from my 10.5" to my SCAR H with the ACOG. So, I can’t use that as an argument for the 14.5".
There’s nothing wrong with either, though I wouldn’t go recommending the pinned 14.5" to a new shooter that may decide to change things once they get to know their rifle a little better.
The velocity loss for a 14.5" from a 16" is pretty small compared to an 11.5" to 10.5". I’d be happy with either if set up correctly, but I can feel a difference in a 14.5" rifle when indoors or in a very thick, wooded area, often suppressed. Well, at least I’ve convinced myself I can!