"Most relevant" fails to address the real question. Most relevant for WHAT?
As posted, 16" gives the best combination of length and ballistic performance. Most 16" rifles are either carbine length gas systems or mid length gas systems. Of the two, the mid length offers smoother, less violent, more reliable functioning over the carbine gas. Rifle length gas systems being the most reliable as that is the original design spec. Again, depending on what you're doing with the rifle, the "most relevant" barrel length varies.
TDC
1.5" difference and better ballistics? Is it really THAT much better? 1.5" for 5.56 seems hardly noticable.
I heard that the us army chose the 14.5" m4 as their standard issue instead of the 11.5" only because you can't fit a bayonet on an 11.5". Point being it had nothing to do with ballistics.
I personally think that the CF's used 16" because of another reason. Not trying to start anything up here, just my opinion.