Hey PAN,
In general I like the convention of having the bleed valve downstream of the control valve, especially if the bleed goes to a hard piped collection system. This is based on alot of start-up experience where the process must be temporarily rerouted (i.e. via hose or hardpiped drain system), such as downstream problems, contaminated process, water run operations, chemical cleaning, steaming-outs, draining, etc. In these cases the control valve-bleed valve combination gives control ability at the panel that does not exist with a simple bleed valve in the field. This might seem a minor consideration, except that I have done it so very often. In-fact in plant start-ups where I find an upstream bleed convention is used, I have often used the trick of lining up the process to flow through the bypass and then backwards through the control valve to achieve the same effect (this requires another block valve downstream of control valve station).
For depressuring it seems basically unimportant which side the bleed is on. If the valve does not open from the panel, you can generally handjack the valve or manually put air pressure to the actuator. This is true for almost every situation except maybe for the rare case of stem breakage in a high pressure flow down valve.
Of course two bleeds is always great for pressure survey's, closed loop sampling, and such!!!
best wishes,
sshep