where are you suggesting putting the can?
so some of this is also historical. Now, many canisters are coming out with switches on the light heads themselves, this was not the case in the early adoption of canister lights, so in addition to having the canister as a place to tuck the long hose *though canisters predate the long hose*, it allowed you to use the switch with an unencumbered hand. Remember how big a lot of these light heads were/are.
Light in the left hand is nice because it is your non-dominant hand, so when doing reel work, writing in wet-notes, etc. you don't have to pass the light around or risk have it flashing about making other divers think you are in trouble.
Light crossing the body tends to allow you to have a bit longer of a reach with the cord without it getting messy. The long hose traps the cord to keep it from dangling, but also allows you to move your arms freely without having too much slack to get in the way or wrap around your body
Canister on the left would put it in a conflicting location with argon bottles. Those typically are on the left to keep with standard hose routing paradigms where the drysuit hose comes from the left post and under the left shoulder.
Butt mounted would put it at risk of getting crushed. With latched canister designs this is especially problematic. Not that doubles are heavy enough to actually crush a canister, but with enough velocity, they can certainly cause a crack and severely damage the latches. Also requires a longer than standard cord and if run over the shoulder, would put it as a potential interference with the inflator hoses which are typically moved to the left or right hip in sidemount.
that help at all?