For my purposes, stanchions and jacklines have two different purposes - there is no either/or decision.

The stanchions (with lifelines) give you something to keep you from going overboard, and stop you if you start or if you slip. They also give tie down points, etc. Jacklines, on the other hand, keep you from being separated from boat when you do go overboard - going overboard is a very serious situation, even with other members on board. It is life threatening if sailing solo. Thus, the primary line of defense are the stanchions and lifelines, not the jacklines.

On Lake Michigan, I consider both mandatory, although I do not rig jacklines for the day sail. Rather, I clip on to the lifelines. The jacklines I use when cruising.

My stanchions are Shaeffer 26" in length, and yes, I have tripped over the life line on occasion getting on board when I did not raise my leg high enough. I don't think I would want them any higher, and have even thought the 24" might be better.