275/40-18 vs. 275/35-18

When looking for tires I see these 2 tires alot. I am just wondering what the advantage and disadvantage of both tires are. I realize that the 35 has a smaller sidewall but what does that mean in tire wear, handling, traction, etc. 35's tend to be cheaper too.

i went with the 35 series for the fact that its got a smaller sidewall. I can easily spot the difference, and the 40 has too much sidewall for my taste. the 40 will offer more 'rim prtection' from pot holes and such