I agree that you should match the barrel to the intended use. I've got a hunting rig with a fluted #4. Some days I wish it were lighter, but it still has enough muzzle to mount a can.
One drawback to a palma contour as I see it is that there is no room to set back. Once it's shot out, it's done. The blanks short 2½ inch breach section doesn't allow for you to lop off the barrel stub and re-chamber.
I've shot out several Hev Palma barrels in my F-TR rifles in the last few yrs, but I've moved away from them and don't plan to go back. On my 6SLR PR build I used a med palma but if I had it to do over again I'd have gone with something closer to a R varmint. When my 6SLR burns out the throat it's done
Granted you may not be able to get back to the the initial precision of that barrel, but you might well be able to get to someting that you could re-purpose. One example of mine is a 32" Heavy palma 308 with about 4700 rounds on it. It won't hold sub .5 MOA vertical at 1000 any more, it's no longer a competition barrel. If it were in a contour with a longer breach I'd lop off 2 inches rechamber it, cut it to 20 or 24 inches, mount a can or a brake and it would still be a useful short barreled 308. As it is, it just takes up space in my barrel rack and occasionally I wonder what to do with it.. As it sits today it's throated to seat 200 Hybrids long so just loping it off to 20 inches and headspacing it for another rifle probalby won't work, so there are really no options for extending its life. These days in a competition rifle I look for a barrel that will make my target weight with a minimum of 4" of 1.250 breach in the blank so I can at least rechamber once and see if it will still shoot.
The other possible drawback to a Med Palma vs a R Varmint (at the same length they are very close in weight) is that the palma contour moves more weight out toward the muzzle. Balance and feel can be personal so it may not be an issue but you may find better balance with a R Varmint type of contour.
One last thing a like about contours with more meat at the breach it that it puts the extra steel there for a heat sink where it's needed most. I've come off the line before with a H Palma that would just about melt your fingerprints after ripping off a 20 shot record string in good conditions. More steel where that heat load is highest has got to be a good thing.