There are a couple other reasons to go behind, if you play a scoundrel/operative/shadow/assassin, you have moves that only work from behind an enemy. Some people will still run behind just from habit. Other reasons could involve not wanting to be knocked back in a certain direction, but if going behind you makes a better knockback for you vs them, then they just don't know. Cover is a unique function that, if not experienced by the player first hand, can be a mystery.
As for whether it provides bonuses, when you drop into cover on gunslinger/sniper, your Defense stat immediately gets 20% bonus, iirc. That bonus is not direction dependent as far as I know, so should always apply. Ballistic dampeners should be the same as well.