My guess is google weights keywords in urls with something like tf-idf which means the more words you will put in the url the less weight each of the worlds will has and also I'm almost sure that there is a some sort of penalty for very log urls so it be harder to abuse, including lots of low freq. keywords in the link and getting "free" visitors.
So answer basically boils down to the strategy you are using: if you want to specialize on some narrow specific queries include only relevant keywords in the urls. If you want to catch some random visitors from long-tail you better be with long urls, just don't overdo it.
My other guess would be that the closer to / word placed the more weight it has. If I were you I'd put my keywords in the order of importance, and replaced "content" with something more seo-friendly, ot just removed it completely.