There's a difference between inherent accuracy and practical accuracy.
Balance and sight radius are both very important to practical accuracy (the size of real groups, shot by a real shooter, from a real position like standing two-handed).
The longer the sight radius, the more precise the aim. Any variation or movement is magnified with a longer barrel.
Balance depends on the gun, your hands, etc. Different barrel lengths change the balance of the gun.
Weight out at the muzzle end, the farther out the better, stabilizes a gun. It also tires a shooter faster, though it also reduces felt recoil by slowing it down. And at some length, you lose all semblance of balance.
So, accuracy from a machine rest -- inherent accuracy -- is a good measure of the quality of a gun and design. But you're best off actually trying out different barrel lengths on the same gun, to see what you like and which one gives better results for you -- practical accuracy.
A 686 with an 8" barrel (a friend has one; I don't think they make them any more) shoots MUCH more accurately in my hands than the 2.5" version. They might group the same in a machine rest, but by no means do they shoot the same when in the hands of a human shooter.