I've got some repositories setup covering specific user subnets: Repo1 - 10.1.15.0/23 Repo2 - 10.7.15.0/23 Repo3 - 10.45.15.0/23 etc...
Using "closest subnet" I can always be assured I will be pulling from the assigned respository, or at least trying it first. If you're using "fastest ping" what happens if your local respository (Repo1) has a momentary glitch or network hiccup and the repository (Repo3) waaaay on the other side of your WAN (potentially across the country/world) has a quick response? Then you potentially have a fair amount of traffic traversing the WAN instead of the LAN.
Thats just my $.02 - using "closest subnet" has worked well for me.
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