How to decide on the resisters for open collector outputs. I have a 7409 IC and wondered what is the effect of different resistor values (apart of the sink current).
You just need to stay below the maximum sink spec.
I don't know what your concerns are, but here are a few random thoughts.
It may vary depending on what you are driving - how much current it needs in the high state.
If you have lots of them they take power to sink more current which could be a problem.
Usually lower values provide better noise immunity.