Here's one more reason to not top:
The massive, though temporary loss of photosythetic surface (leaves) means the tree cannot make food until it has taken a lot out of storage to replace what was lost. This means the ROOTS are going to be affected, and right away. If the root system on a large tree goes into decline, it may recover, but more likely the tree will fall prey to root loss and rot... and then to windthrow.
I have had good success dissuading folks from topping their trees by pointing out the negatives to topping and the positives (including $) to proper maintenance. Not all have seen the light, but most have. Often when I offer to repair the tree from the previous topping (remove stubs and badly decayed sections and thin the excess sprouts to allow remaining ones to prosper and to let some light into the interior) customers are happy to know there is hope and don't mind paying a little more for a secure future.
By the way, here's a can of worms: pollarding is a viable option for a young tree owned by anal customers who want a big shrub. The cuts are small, the practice is sustainable. Only downsides are the winter silouette and maintenance cost every year.