I think he difference should be a matter of story perspective. If your game is character driven then it should be 3rd person, if it's environment driven then it should be first person.
That's an interesting point. It's somewhat related to the "silent protagonist" in a lot of FPP games. Characters like Samus Aran, Gordon Freeman, Master Chief, and Jack from Bioshock never (or hardly ever) speak and consequently the environment becomes more of a focus in their respective games. It's probably part of the reason I find that I can tolerate the various idiosyncrasies that I dislike about first person perspective in those games, the character is overshadowed by the gameworld. That said I'd still like same damn peripherals. I hope the next gen systems support 3 monitor displays. The next PC rig I build will certainly support 3 monitors.