Scenario: Let's say you want to position a tree right on top of somewhere. It's a proxy with many instances around.
The only way to see exactly where it is is to show it as mesh. When you do that all other instances are turned to mesh too making the scene potentially huge and possibly having to wait a period of time until Max unfreezes.
With the solid box you can't tell where the center of the mesh (the bottom of the trunk of the tree) is.
Also you have huge solid boxes everywhere blocking the viewport. Boxes also don't show direction very well, so you don't know how much you rotated and object for example.
Wire bounding boxes, same thing. Better with viewport but you still have huge boxes all around.
Point clouds is better but the performance of point clouds in Max (at least in Max 2016) is rather poor. Makes the viewport sluggish in my experience.
A plane shows you better where the base of a trunk would be. You can see a direction easier. It doesn't block the viewport as much. and the performance in the viewport couldn't be better.
Ideally there would be a solid plane and a wire one.
Thanks Maru.