With 16" barrels you're going to get some amount of POI shift either way. Whether the pencil barrel also will then "droop" more as heat builds up is something I've not seen documented well but many people claim to have experienced.
If I was intent on shooting a 16" barrel both suppressed and non (something I'm not in favor of, FWIW), this is the only way I'd fly. Provide, of course, that the mounting-device/muzzle-device was long enough to turn a 14.5" to a 16".
http://www.rainierarms.com/noveske-n...-5-switchblock