My personal opinion: go with front facing, unless lateral is actually more convenient from where your fanny is parked in your chair. If you have to twist, you will be less likely to actually file anything.
Laterals tend to look better in the room, but I prefer front-facing. I have both in my office. I use the lateral for reference material and files I don't often access. The front-facing is for the everyday stuff. For me, the body position when using a lateral file is just too awkward.