So far as for something looking "right", we choose to fiddle with the FOV, to make it "easier" to look around.
I agree, that in a game where situation awareness is key to survival, realism comes in a close second in appreciation.
So, I figure HiTech has left it up to us to juggle and find the best balance for ourselves. Basically, giving us the number of options to customize, rather than a one size fits all setting, eventually bringing more customer satisfaction, not less.
If there is a compromise in the "scale" of viewable objects (ie FOV) to enlarge the size of tracers and hit sprites, HiTech Creations would know the cost or benefit in terms of memory, or framerates or other consequences that these changes may bring. In other words, they have more objects to juggle.... and I am certain they plan to serve their customers the "best" they see fit.