I like to cover the yardages you find yourself in on approach-like 125 yds in-so depending on the course I will carry 4-5 wedges, all with high spin ratings.(The fifth wedge is part of the iron set.) The tradeoff is in your long clubs.
I use the Taylor 8.5 driver and the hb for the long clubs which allows me 3 picks for option clubs. If you want the 3w for courses like Bethpage you swap it out with the hb. I don't because of the 8.5 driver and it might mean I have to settle for par instead of a birdie putt on a couple of holes at BPB (not always though) but the other 16 holes make it worth the trade. (It also helps that I know I aint ever going to be the next coming of NivlacTibbetsNasaGolferAvatarLee, etc.) I can hang, though.
This strategy isn't for everyone because of the 8.5 driver not being real forgiving but the only time it causes me grief is when the meter does its two-step thing. I can keep it in the fwy most of the time (lol-8 out of 10 or so) and when I don't it's usually me. The fun is the 2nd shot and I'm seeing a lot of golfers getting good at sticking the ball real close to the pin fairly regularly which makes putting a hell of a lot easier.
Plim is right on with the putter.The Redwood kills if you learn it.
GL