It really is a balancing act entirely dependent upon your particular circumstances.
Ideally, I prefer a tripod stand that allows my feet to get under the anvil similar to a toe-kick on a kitchen cabinet. However, I do have another stand that's made out of 6x6 pressure-treated lumber because that's what I had on hand. The wood is very light compared to the metal stand for my other anvil.
The difference, though, is that I like my smaller anvil to have a light-ish base so it's easier to move around. My big anvil doesn't get moved much, so a heavy stand is okay.
One thing that I saw after building my wood stand was to rotate the anvil on the wood base by 45 degrees so that the long axis of the anvil is bisecting the stump on the diamond instead of the traditional method of running parallel to the side. Having the corner of the stump sticking between your feet allows you to get a few inches closer because nobody works with their feet tight to one another. This basically allows for a wider base that's more stable but doesn't force you farther away from the anvil.
When reason fails.....