All arguments mentioned are ...

All arguments mentioned are valid, but keep in mind that the pipe diameter is not the only factor affecting the head loss. Smoothness of the inside of the pipe can vary much, extremes between like concrete and stainless steel, have a bigger influence at higher velocities. Also you need to take into account the number and type of curves, valves, reduction sections and T's. A wide curve creates less loss, than a knee, a saddle type valve more than a butterfly valve, etc. And these losses are more than linear at higher flow velocity.

As a general rule, for clean water v should not exceed 3 m/s.