"When evaluating welds what considerations should be taken as to the servicability"

None.

3.2

"When evaluating welds what considerations should be taken as to the servicability."

Absolutely none. "Fit for service" is an engineering decision.

"I have been told on numerous occassions that i have been too picky at times."

Contractors, production will tell you this all the time, especially if you are new. Their main concern is keeping to schedule, your's is product quality. I work in a manufacturing setting, and believe me, during the first year or so on the job, I heard this a lot and still hear it every now and then. Eventually, when they came to understand my rejects were solidly based in the code and they were going to have to fix the weld, objections became much fewer and further between and they simply fix whatever it is without the drama. 

"Being a rookie all i know is whats in black and white."

Properly that's all you need, a solid acquaintance with the code book and the ability to apply it consistently. That's enough to do the job. Eventually you'll get a reputation for doing things the right way and doing things the right way will get much easier, people will understand they can not argue you into signing off on substandard work and they'll quit devoting the energy to attempting to get you to.

I feel its better to keep things black and white. thats what the code is for.
The guys I work with know what to expect from me, and if there is a dispute about a call I get another inspector to give his opinion.
The important thing is to catch defects and that’s what the guys know im trying to do.
For example We repaired a casting, the UT subcontracted service marked out the crack,  when I was called to MT the Back gouge I noticed a little indication in the area that would be the repairs HAZ. I decide to investigate it, and found it to be the crack that the UT guy should have marked out, the crack turned in the middle .
It grew huge as it was ground out .
So If I Didn’t Address that tiny little indication we would have missed the Crack altogether.
Welder would have taken heat (for some other inspectors bad call), so They know I’m looking out for them.
if you respect your welders they will respect you.
I would advise that you keep a journal and record every thing, I mean everything. Be sure to report all concerns written in your journal. I cannot tell you how many times in my career that I have used my journals to figure out other peoples issues on the job.(corporate amnesia)
Make sure all deviations are recorded and signed (verbal changes don’t mean a thing).
Be familiar with the Qualiy manuals at the places you inspect for (this will help you to move from QC to QA)
MDK

The Engineer is in charge of 'serviceability'.  You are in charge of recording 'conformance to plans and specs'. If you are never told by contractors that you are too picky, you are probably too easy.  However, if you call defects based on code or specs, be prepared to show acceptance criteria and how the defect doesn't 'measure up'.  Always assume that any call you make could someday be projected onto a screen in a courthouse...

All in all, I'd say being "too picky" is far better than being known as not picky enough.

What industry are you working in?  That can make a difference.
Keeping in mind that a "bad weld" is not a good thing in any industry, some welds are more important than others.  That being said, don't forget that "Murphy's Law" says that whatever can go wrong will go wrong - and you WILL miss something. If you keep an open mind, open eyes, and open ears, you will soon learn where you need to focus your attention when you are doing inspections.

I'd rather goof-up on a siding clip weld than a main member splice weld any day.