I recently got the LD-40 with the Tall canister and the UWLD heat controller as well. With both caps on, it is pretty tall.
I have dived it in BM doubles, carrying 3 deco cylinders (2 x AL80 + 1 x AL40). And I have dived it with my rEvo CCR, while carrying 2 x AL80.
In BM doubles, I used the standard belt loop on the canister to put the can on my right side, back against the BP as far as it would go. I didn't notice it at all in the water. The weight of it made getting into my rig, while it was on a boat bench only slightly more challenging. The canister is tall but it's pretty slim. Both my caps are sidemount glands, so on my waist belt, I orient the can with the cord caps at the top and facing forward.
With my rEvo, I have a fixation (they call it that - it's a clip/bracket that you attach to, in this case, the canister using hose clamps) that mounts on the canister and then it just clips right onto the side of the casing of the rEvo. On the rEvo, the can is mounted with the cord caps down and facing forward. I had 1 80 on the left and 1 on the right (same side as the can). I could not even tell it was there.
I did a 90-minute run on Saturday with my light on High and my heat on 1 during the dive and I think I set it to 4 during the 10 and 20 foot stops of deco. The battery indicator was yellow when I got out, which I believe means that it was somewhere in the middle 1/3 of it's capacity left.
I did the math before and I believe the Tall canister would give me 2 hours of total run/burntime with the light on High and the heat on 5 (of 5 - wearing a 42 watt heated shirt).
I don't know if any of that helps, since it's not sidemount or a Pelagian.
Doing the math on what you posted. I think the LD-40 is to be calculated based on consuming 32W. So, a 54W-Hr can would only give you 1.7 hours of burn time on High. The 107W-Hr can would give you 3.3 hours. The 160 would give you 5 hours.
Personally, I think having a 50% margin is a good idea on a primary light. Maybe even a 100% margin (i.e. double what you think you will actually use). So, if you're doing a dive up to 2 hours, you'd want 3 hours (or more) of capacity. That means at least the 107W-Hr.
But, if you might need to dive for 2-3 days without a charge, well then, there is no choice but to get the Tall (160 W-Hr). And still maybe dive with it on Medium, not High.
I haven't used it with the same configs you will, but the slimness of it has made it very unobtrusive for me. I'd say to buy once, cry once.
And then, if you ever dive in a drysuit with any kind of undergarment more than just a rash guard, think about replacing that undergarment with a heated shirt. Heat on deco is The Bomb!!