Having run one for a couple of years, let me share my thoughts.
btw: I wasn't attacking your choice, just asking for reasons etc..
" 1. Move less air per revolution. "
This true, there are three little bites vs: 2 larger bites, but it's not a huge difference in total cfm delivered.
I would add to this the "pitch" is different with tri-lobes, some say they are quieter, I just think it's more of a different kind of noise.
Less horsepower to drive blower at capacity, a #4 bi-lobe will require more power than #4 tri-lobe, although the difference is small it makes it possible for a 27hp to drive a 47 tri-lobe.
"2. Have more friction from the additional lobe"
This I can not confirm or deny, since the lobes don't actually make contact with the housing why would there be more friction?
If anything, I would guess it would be a more balanced assembly, and yield less vibration than a Bi-lobe.
"3. Are more prone to stick from rust between the lobe & housing"
Maybe you are right, but I'm not sure why this would be true, once again it's three smaller points vs: two larger points, end the end I think it would be a wash.
"4. Are not rated for the highest lift (16" vs 15" -#4 Gearbox)"
This may be true as well, but on that note I know that there is trade off on lift vs: cfm etc... To actually hold that higher lift, you need the horsepower behind it.
Can you hold 16" with a #4 bi-lobe and a 20hp motor?
You could with a #4 tri-lobe and that same motor, it's a small difference but the tri-lobe allows a wider range of engine to blower options.
"5. Less flexible mounting system"
I'd have to look into the details of this one, to have an opinion.
One of my favorite features was the double splash oil, No Zirk Fittings.