One additional aspect of the difference between 48-cell trays and 72-cell trays is the number of cells per separable "pack." My preference is to have only a single variety within the same pack. (Less opportunity for confusion while planting in the field.) So, in 48-cell trays, the number of plants of a single variety must be a multiple of 4, whereas with 72-cell trays, they must be a multiple of 6. This makes no significant difference for a large number of intended plants of a single variety, but with tiny grows of dozens of varieties--counting the extras needed for safety, the difference can add up quickly, since I'm always rounding the number upward to complete a pack.
This may be an issue only for me, since I am willing to label and place a variety marker for each pack, but not for each individual seedling in a pack. If a tiny grow is expected to be 4 plants of one variety (skychaser, cover your eyes here), then to have a safety margin of 50% (2), a 6-pack is perfect, while a 4-pack would end up with 8 plants of that variety. If the tiny varietal grow is planned for 6 plants, then 4-packs work better.
Aside from that quirky, obsessive habit, I prefer the 48-cell trays simply because they require less attention. I'm old and lazy. Less frequent watering, no supplemental fertilizer, no intermediate transplanting. And I believe the 48-cell trays require less frequent clipping.
Bob