It is worth noting that you do get a shorter an more compact bellows unit + camera - however, you also lost extension designed into the lens heads typically used on the PB-4 or similar devices. Thus you might have to compensate by extending the bellows draw further. An example would be the Bellows-Nikkors 105/4 or 135/4. They would still focus to infinity I'd guess, but will need some draw fore this to happen. Also, they would no longer be able to go to 1:1.
For some third-party lens, which might have too much extension to be useful on a bellows without being reversed, the new setup could be beneficial. You might also be able to utilise some enlarger lense with shorter focal length, say 40-50mm, and have a useful working range with them.