I have done testing on both types (BXA size), using various brands of holders, using a TDI and actual cutting.
The piston type is more prone to repeatability errors depending on the fit of the holder to the tool post. A loose fitting holder can be locked up slightly tilted fore or aft several thousands of an inch where a tighter fitting holder is more likely to true up when tightened. This can be dealt with by applying pressure to the front or back of the tool holder when locking to fully seat the dovetail.
Some holders from other manufactures may not fit the piston type holders due to that large variation in dovetail dimensions between manufacturers. I have not run across this problem with the wedge type.
As stated above the contact area between the holder and tool post is greater with the wedge type but in the testing I have done, taking maximum turning and parting cuts, the real world performance was negligible between the two.
That being said my personal preference is the wedge type because any brand of holder will fit and there is less chance for repeatability errors.