I've had 3 shorties and 2 LWBs... one each in genII.
Hard to really compare the two, as they are such different beasts. Assuming all other things are equal... (ie same engine, trans, etc)
The ride: although the shorty is the smoothest "short" vehicle I've driven, it still has a wheelbase of 92 inches, so the Longer-Wheel-Base has the advantage hands down. Speed bumps, gravel, road undulations, the longer wheelbase gives it a smoother, more predictable feel, with less corrections of the wheel, less intrusions from the surface, etc.
Maneuverability: obviously this goes to the shorty. Recirculating ball and nut steering does not have a great turning radius by its very nature, but the shorty can at least pull a U-eee in a small space. LWB needs multi-point turns, needs more room to cut a turn, etc etc. I'm going to lump size and weight in here too: the shorty feels more nimble, owing to its lighter mass, and smaller dimensions.
"Trailability": (offroad) LWB does better in alternating ruts, since it raises a front wheel more slowly. SWB does better with breakover, and short hill ascent, since it has a much trimmer "behind". LWB does better on long hill ascents/descents since it has less propensity to put the back wheels ahead of the fronts... <img src="/forums/images/graemlins/lol.gif" alt="" /> LWB is much better to recover someone else, but much poorer at "being recovered" (can you say diet? <img src="/forums/images/graemlins/ignore.gif" alt="" /> )
Snow: In deep snow its a mixed bag - shorty can stay on top better than the big LWB. LWB is much better in snowy turns at speed, since it doesn't spin around nearly as easily.
Towing: Supposedly the LWB is better, but I can't speak to that yet...
Overall, both are excellent vehicles for their intended purpose, IMHO. If you're hauling a lot of cargo or people around, the LWB is a great choice. Or if you're going long distances and want comfort first and foremost. If you're wanting a smaller/more agile vehicle for high traffic/parking, wheeling, etc, then the Shorty is a good choice.
As you can tell, I like both a lot, for different reasons. <img src="/forums/images/graemlins/kewl.gif" alt="" />
