I'm not sure what the technical advantages vs disadvantages are of the two. But I can see where both would be applicable. This is all just guess-work though, please correct me if I'm wrong, thanks

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Open back cabs bleed more sound around them, so the sound can seemingly fill the room up more evenly in all directions. So IMO a small club setting open back is the way to go because you can turn up a bit and not have to worry so much about bombarding the people right in front of you with such a directional sound like you'd get with a closed back.
Not saying open backs aren't usable in huge stages, open vs closed back changes the over-all feel of the amp as well, so it's more to taste than anything else IMO.
Closed backs though, I think can make recording easier. Since hardly any sound is going to be leaked out the back, most of the freq. will be coming out the front, so miking a closed back would potentially give you a fuller tone. I've actually heard of people who mike both the front and the back of open back amps, so I can't be too far off the dot on this one lol.
But still, there are great open back combos and closed back cabinets out there, all of them sound great, I don't think one is inherently -better- than the other, though in certain applications one may be more ideal.