If all { and } are on their own lines, then it modestly simplifies the ability to visually scan from one to its match because they appear on the same column with nothing between them.
Heh, I have a similar visceral reaction to the "open" style: what a waste of precious screen real estate. Now my eyes have to scan a much bigger area in order to see all the relevant information, and I might even have to waste time scrolling around to find what I'm looking for that I would not have had to if only all that unnecessary white space were eliminated.
Putting the brace on the same line also makes it easier to grep for function definitions.