It's all a bit of "marketing." The key factor is the ratio of the circle turned by your feet (170/175 etc) compared to the distance travelled with the revolution via the gearing.
So for EQUAL PEDAL FORCE you could use a short crank and small gears or a big crank and large gears. Work done = force x distance. The circle described by your feet is as important as the chainring diameter.
However, there is a second factor at play, the dimensions of your legs, and ratio of shin length to thigh. This is different for everyone. But short cranks give less variation in knee angle and vice versa.
So firstly buy the crank length right for your leg length, then adjust the cassette / chainring to suit. If you have a very short shin or long thigh then you may need shorter cranks than you would expect...etc.
Speaking personally I bought some nice retro 175s for my tourer (couldn't get 170s) and paid for it with a week of severe knee pain. I couldn't believe that it made such difference.