I keep running into the same question when setting up call conversions for local plumbers or dental clinics. Google counts a call as a conversion once it passes a duration you pick, and most people leave it at the 60 second default. The trouble is that plenty of 20 second calls are someone asking whether you handle emergencies in their area, which is a real lead. And a 90 second call can just as easily be a wrong number or a spam bot that stayed on the line.
Still, my view is that a high threshold keeps Smart Bidding focused on people who actually want to talk to you, while a low one rewards quick hang-ups and inflates the count. So I'd keep the threshold high for bidding and track the shorter calls as a separate action for reporting only. How do you compare call logs to booked jobs when they don't line up?