It's up to you. I generally prefer somewhat larger groups. Back in college I ran a campaign that averaged 11 players. At it's peak there were 17 and the low was 9. It lasted for 2.5 years with a core of about 6 players surviving the whole thing.
My current game has 7 players and no one seems to have a problem with getting enough face time or backstory.
There are some tricks to it, though. At 6 players you need to set ELs at average party level +1, while at 8 players you need APL+2. Unless you want massive character deaths, never choose a single creature who's CR is >APL+4. Despite the party's increased power as a group, they aren't as strong as individuals. So bump up numbers when you have high CR creatures.
Treasure can be hard to balance. The dice will conspire to give one person tons of gear and screw someone else. (One year the dice refused to give a magic sword as random treasure) In a party of 4 it's easier to notice but with 6+ it's easy to get lost.
Consider doing an audit of each PC when they level to find out who's got lots and who's got none. Be prepared to seed the treasures occassionally with stuff for a particular player. If that doesn't feel right, turn some of the items to cash or other valuables that the party can divvy up.
With large numbers comes conflicting party goals. Barring cohorts, try to generate NPCs the party trusts. When people start bickering use Wis checks to think to check with an NPC ally for advice. Though it adds more work to the game, I'm happy that there are 2 cohorts IMC b/c it gives me two different voices to express opinions. Both cohorts want to do what's best for their Leaders but generally want to keep the "band of heroes" together for their own good.