Nil -- If you are just using 44.1/16, based on my analysis above you should be equally good at 4m or 3m. It would probably be a good idea to try to cross-check that against actual user experiences, if you can find relevant information via search (here or via Google).
AES/EBU and SPDIF do not differ significantly in terms of protocol, bit rates, or clock rates, and therefore do not differ significantly in terms of the reflection effects we have been discussing. They do differ in terms of amplitude, use of balanced interfaces, etc., which would seem to favor AES/EBU (balanced connections, higher amplitude) for longer runs. Just as any longer run will benefit, in terms of noise immunity, etc., from being balanced and having higher amplitude (everything else being equal). But at only 4m, for a digital signal, I would suspect that the difference would not be particularly significant.
See the following, re the differences between AES/EBU and SPDIF:
http://en.wikipedia.org/wiki/SpdifRegards,
-- Al