If towing and storing the longer LSV is not a problem, I would go that route. If there's one thing I've learned in having a wakeboard boat it's this: You can never have too much room for people and gear. Boating is a social activity. I like driving a boat with room for TWO big families. Wakeboards fit on racks. But you need storage for all your water skis, knee boards, wake skates, tubes, vests, wet suits, extra coolers, place for shoes, trash bag, ropes, ropes, and more ropes... see where this is going?
I don't know about the wake difference, but frankly it doesn't matter as much as the space inside. Any modern wakeboard boat will produce a wake that you'll grow to love.