Kyle,
Great topic!
I debate this a lot, and think it depends a lot on winds.
Most players are more comfortable aiming so their miss, if any, stays over safe ground. They love a shot where the prevailing wind and the green design both increase odds of getting close, and also is kind to the "safe" miss, or bailout. They hate a shot that requires aimingnear/over a hazard to get where they really want to go.
If you are 175 to the middle, and 185 to the back in a downwind situation, and are debating between clubs, its more comfortable, as you can take the lesser club, possibly trying for less spin, knowing that possible winds add carry and further reduce spin to help you roll back to the pin. If not, you end up in the middle of the green. Ditto on a front pin into the wind. You probably need an extra club to combat the wind, but headwinds add backspin. You get close if you execute, but find the green if you don't.
To me, that sets up the strategic dilema better than the opposite theory - a closely guarded front pin downwind, or back pin in a headwind increases the risk by increasing your chances of finding hazards since the aggressive choice tends to miss in the hazard, reducing incentive to try to get close. Thus, you play for the middle of the green, unless you think the hazard (perfectly groomed sand bunker, perhaps) is a better miss.
Both situations have their place, but the first scenario promotes more aggressive play while the latter probably makes golfers more conservative.
I probably design 2/3 of my "Sunday Pins" towards the back of the green on downwind holes, and front of the green on headwind holes to help the golfer execute the shot. Similarly, most holes allow aiming at the middle and curving to the sunday pin - ie wind blows right, toughest pin is on the right - and a straight shot hits the green, not a hazard.
I also tend to go with Sunday pin locations towards the back of the greens on long holes, and near the front of the green on shorter holes......to emphasize their respective hole lengths.
In no case do I follow the above to a tee - I just realize I have developed those preferences.