Hi rrgmeager ,
Yes, it's a matter of preference. You can add a Background Image instead of a Reference Image. They just differ in their Settings, so you can also just change that after you've Added the Image:
Side > Front, is your Backface Culling, for instance (you can only see the Front of the Image).
Back would do the same thing, just visible from the back side instead of the front.. Opacity let's you see through the image whatever side is visible.