I like what everyone else calls badly modulated brakes, they go to full blast in a very small lever travel. I find I can control (modulate) the brake force very easily and accurately over this small range.. So poor modulation is essentially a subjective thing.
I dont think this is completely true I thought it was with V-Brakes but I suppose that because they are not as powerful as disc.
I generally like very small lever travel as you say, but when I had avid BB7s I set up the brakes for small lever travel. They became very grabby. ( I could also spin the speed-dial but they felt mushy then and this didnt always help)
This was never a problem on the front as most of the time I wanted to brake I had plenty of weight on the front.
But if I did not have much weight on the rear wheel I’d find sometimes it would lock it up no matter how gentle I was with the lever. Like the minimum power that could be applied was more than traction the wheel could have (mainly on sandy/slippy descents).
I now have avid juicies and if they are well bleed and the pads are close they can have very small travel on the lever. But I never accidently lock the rear wheel. Presumably because they are easier to modulate.