For transferring things over several feet, it has, in the past, been difficult to speed the interfaces up. Or often times, easy to do, but very costly. Over the past several years, many technological barriers have been broken. Not really broken, but what were once insanely expensive ways to get things done have now come down (and been tweaked along the way, else it'd still be expensive) to where anybody can manufacture speedy gadgets--or at leats contract somebody else to.
One of the problems with any design for transferring data is that you have to have X lines at the same width (or at least within a certain tolerance for the speed you need). Not to mention there's some magic in EMI that can cause parallel lines at similar fequencies to amplify the noise coming from them (at least as far as the recieving end is concerned).
So cutting down the path's width, you can design things easier, having to deal only with 16 or fewer traces at a time, typically. Also, you only have to make the controller use these, which can bring its size and complexity down. Using LVD adds more, but also allows speed benefits that are worth it (see SCSI and HT).