15:52
I don't know if how much real effect it has, but I can definitely understand the arguments in favour of SPD-SL. In comparison to no moving parts and a single contact surface, SPD has 4 contact points, 2 moving, and 2 springs (with independent tension adjustments) per pedal.
In order to dial in the amount of float you need to fiddle with 4 tension screws, instead of just changing cleats. And there's a lower limit to the amount of float, plus increasing the tension makes it harder to clip in.
Not to mention that, while quite minor, the metal-on-metal contact means that the pedals themselves experience wear (even assuming you manage to keep the springs clean and dry so they don't rust, which can be quite a chore).
Whereas SPD-SL means you trade off making the cleats consumable. But like with Look KEO (which is an identical concept with an incompatible shape) you can select a desired amount of float just by choosing the correct cleat.
(And if you're a real weight weenie, it's easier to make the SPD-SL pedal+cleat to be lighter than an equivalent SPD pedal+cleat.)
FWIW, I have SPD on my commuter and touring bikes and SPD-SL on my road bike.
(Not by deliberate choice, that's the way they came and I've never felt the need to change.)