"I plan to shoot largely portraits, often in environmental settings e.g. factory/restaurant workers etc."
with 4x5 or 5x7 the image will usually be enlarged in the print, with 11x14 it's enlarged in camera. You must get closer with longer lenses = very little DOF, kinda tough for environmental portraits. Easiest answer is to try out an 8x10 with 5x7 reducer back. As you go up in format the prices for everything expand exponentially while availability decreases exponentially, the lines cross at 8x10.
Have fun with it.
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