I find that odd, because a lot of people I know use to dance chest to chest, but after a trip to BA, they said that everyone dances "V" down there at the Milonguas they went to and now the "V" style has grown here in the last 4 years or so because of BA influence.
BTW, I prefer "chest to chest" when I go to traditional milonga, but I gained some eight over the past three years and with my belly in the way, unless I am dancing with a razor thin follow, it forces us into more of an offset "V." Also I have lifted weight for so many years that my chest is very big, so usually the ladies right breast fits between my two pecs, so I am forced into my embrace style by my body shape. Follows always tell me that I have a very comfortable embrace, so I think this works for my body.
I think that humans are not made of cubes, planes, and triangles, so the V vs. parallel styles are ok in theory, but do not fit the real world. Look at tete, one of the best of the best for goodness sakes, he leads with the upper side of his belly.