Outboard rudder vs. inboard rudder

Looking for a pro's and cons list, mainly performance oriented, on outboard versus inboard (under hull) rudder.

boat type: A pretty light ficticious sport sailboat D/L is less than 100, boat could plane at times downwind or hot reaching. SA/D over 25. Ballast to disp ratio of around 40%, moderate beam to length, not narrow but not wide.

just general thoughts to get things rolling. I appreciate the help.

Performance pro's and con's
outboard pro's
I'm told farther away from the keel. but why is that important.
more direct feel?

Can make a narrow rudder due to no rudder stock. but why is this important and doesn't a rudder too thin harder to drive in the groove...or is it easier?

Outboard cons
ventilation? But what exactly is this and doesn't a inboard rudder experrience it anyway? At what point does it happen and can the driver prevent it? If the boat is sailed without a lot of weather helm isn't it a mute issue? Flat is fast???

Inboard pro's
balance? But can't a outboard one feel balanced?

inboard cons
short "wheelbase" hencec turning radius or feel?

Again I'm just getting things started, I hope someone can come up with a better organized pro and con list of both. I am just looking for a general education on this.

I apprecaite the responses. I understand being "new" to the forum and asking a quesiton that was covered before can be frustrating for regulars. I tried to search but couldn't find a direct discussion.