The question is a bit like the answer to the question, "How long should a man's legs be? "Long enough to reach the ground."
As Jelby says for printing on a standard size page, whatever is standard whereever you are, set it to that size. If you have a reader in mind, that size. PDF's are pretty much meant to be displayed at the size for which you lay them out.
That is their advantage and their shortcoming. A full size page display PDF on an ereader will be mice type, but laid out for an ereader screen, very nice. Feedbooks, unless things have changed, has a number of ebooks in pdf, sized for ereaders which look fine.
Many ereaders read PDFs, so if you are going to make them that size, it seems it would just duplicate things.
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