Mike, I agree with "all of the above." I once talked with a rabid 'Wall user in Saratoga Springs, NY and he told me "Highwalls for target; lowalls for hunting."
At the time I didn't get it--I associated lowalls with small game hunting only, and the only hiwall I had that I could carry comfortably any distance was my rather unusual "lightweight" .38-40 mentioned above. Then I got a standard plain lowall .44-40, and later a .38-40, both with 28" #1 barrels, and discovered that they make excellent woods deer rifles when loaded with loads the equivalent of the old "WHV" ctgs. And you can pack 'em a country mile!
Also share your distrust of rimless extractors in single shots. I guess it's pure prejudice since German, H&R, Ruger, and "Blowning/Winchester" rimless extractors work OK, as does the one on my Valmet/Savage .222/12 combination gun. I still like rimmed ctgs better for single shots, just conservative and set in my ways, I guess.....