Rich,
"The stick should be cut from your arm pit to the palm heel or center of your palm." The size of stick you mention is used in Serrada. One advantage of this length is that in close your stick doesn't get caught on your other arm, or the opponent's arms or weapon.
Jarrod,
I should also add that the founder of Tapado, the late GM Mamar, deliberately chose the longer stick (approx. 4 feet) to give him a greater reach advantage as well as a greater margin of safety against other eskrima stylists using the 28 inch long stick.
Darrin,
I disagree.
The Serrada sticks I have seen have been shorter than the 26 to 28 inch sticks I am used to seeing. Also I heard that from my Filipino Balintawak Instructor, when he was smiling and being devious about hiding a stick so people could not see it.