You're missing the obvious one,
V12 = more moving parts, = greater reliability risk
Same number of camshafts, just 2 more pistons, 8 more valves. But, possibly, less stress per piston for the same power, and no need for balancer shafts (which are two more major moving parts) If we were talking V12 versus I6... then, possibly, that could be a complaint.
Well, more so than piston size is the shorter stroke it permits, which is what ultimately limits revs, if I recall correctly. Otherwise, completely agree.
But I do think packaging is the major issue with the V12...
Big pistons can still have a short stroke. What's important is that there's very little reciprocating mass per cylinder in a V12 versus a V10 or V8 of the same capacity... but probably more important is that you can have a bigger engine with a V12 without having to resort to awfully huge pistons.
The biggest advantage for me, still, is the sound. V10s sound raspy and angry... which is nice, but none of them have that sweet creamy music that comes out of the tailpipes of a V12... and they aren't as burbly as a V8. (call me odd, but beside a new M3, the M5 just sounds monotonic dull.) The worst of both worlds, so to speak. Aside from the Viper, the only reason we're seeing V10s in sportscars at the moment is that for one, brief moment, the FIA declared that F1 cars all be V10s... thus the marketing war to bring them to production... just to forge an imaginary link between these road cars and F1s.
Too bad nobody did that with the turbo 1.5s... just imagine... driving a Honda Civic or BMW 3-series with a 300 horsepower 1.5 liter engine... if only, if only...
Too late for us... those 1.5 turbos
are coming, but they're all going to be diesels... rats.