I guess I'll add my experience/thoughts to the puzzle too since you MAY find them relevant.
We were once shopping for a 40+ ft toy-hauler but didn't necessarily need the garage (had toys but knew majority of our camping would be without them). We had already used a friends 41' or better TH a few times and knew the advantages of a garage even without toys. We weighed the pro's and con's (haha, no pun intended) and decided on a 32' 5'er (no garage).
A few of the non-garage "pro's" for us are...
This smaller trailer is FAR easier to find sites we can fit in when making reservations.
Being a 5th wheel, the overall vehicle length is only a couple/few feet longer than when towing my flatbed car hauler. I can easily fit in any gas station, parking lot, or camp site that I come across (as long as it's long enough).
Our 32' RV has more living area than most (all?) 40+ ft toyhaulers
And just so you know, I was perfectly comfortable towing the larger trailer (I'm a former in-town truck driver). I just find it immensely easier to not have to.
As others have said...Kudo's to you for asking these questions before purchasing!
Oh yeah...one more thing to consider. In most states (unfortunately not mine), you can tow a small trailer behind a 5th wheel...making a toyhauler even less necessary.
'04 GMC Sierra 2500HD, CCSB, D/A, MaxBrake, B&W Companion, Retrax Pro, AR Power Steps
2013 Rockwood 8289WS w/Diamond pkg
1969 Camaro RS/SS Convertible
Dad's old 1968 Empi Imp (recently recovered from under 21 years worth of boxes/dust)