For waterfowling I like the advantages of the big chamber.
1. A 3" chamber can withstand more pressure than the smaller ones. This provides and extra margin of safety even when using the shorter shells.
2. You have more waterfowl load versatility. If you have a 3" gun and run out of shells but, all of your buddies in the blind only have 3 1/2" shells, you're done for the day.
3. 3 1/2" models can shoot traditional loads weight at higher speeds. 1 3/8oz of BB's (85) at 1,550fps in 3 1/2" VS 1 1/8oz of BB's (70) at 1,550fps in 3" for a loss of 12% in pellet count. Or the same 3 1/2" load vs a 3" 1 1/4oz load of BB's (77) at 1,400fps. You can also move up to a factory steel load with a velocity 1,625fps of 1 1/4oz. It only comes in a 3 1/2" shell.