TexanCajun: Yes to both, you setup your bags as you want to for different formats
not necessarily. you can have it set up by course type.
in my case for example I have one setup with 2 drivers a la phil,
my old R11 and new R1, for those courses with long par 3's,
I find the higher loft of the R11 more suitable for them,
yet I still want the extra distance and forgiveness
of the R1 for the rest of the holes, so I'll use that set
say on merion or oakmont's front 9.
also for longer courses, I'll go with a setup that has a longer ball,
for "risky" places like Wolf Creek I'll go with the starter ball, etc etc..