Fighters stare at their opponents eyes. The higher the guard the more they see your punches coming as they start from closer to eye level.
They will typically tell you to stare at the center of the mass. EDIT: The angle is still awkward when it comes down, and you can more easily change the trajectory midway as opposed to high lead.
Better balance for head movement, able to block the body better, more vision (fighters look at the chest in my experience), less constrained angles for punching, more distance for punches you throw so you can whip shots in, you can fight lower easier and higher easier meaning it just helps the balance as you are keeping more weight around your center of gravity--easier to move away and duck under. Gives the opponent a different look they may not be used to, can feint more creatively as the hands aren't in a standard position.