Fish such as Angels that are "tall" and not active swimmers are okay in tall tanks. Most small fish, characins, cyprinids, rainbows etc., like swimming space so a long tank is better.
Tall tanks are more difficult to light for plants as well. The depth means generally more light is required anyway, but the small surface area does not allow regular fluorescent lamps.
The smaller surface area also impacts on the gas exchange. Tall tanks unless artificially enhanced, can hold fewer fish then the same volume long tank.