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I'd say it depends more on real estate. If you can hang then it eliminates grill marks/black from dirty grates. Does it make the product tastier, probably not.
I don't do sticks but do sausage and hanging has pros of more real estate and not that it matters much to me but, it doesn't leave any marks on the sausage from the racks and the sausages don't flatten any under their weight.
This is a non issue when you grill/heat them up as they will plump and all of that cosmetic stuff will generally go away :)