I am using all 5 but sparingly. I had three before Sholes so I had to spread my stuff out when I flashed (wow that sounds dirty).
From Left to right my screens are
Screen 1--1x4 sticky note widget, youtube widget, market icon and settings icon
Screen 2--2.1 news widget, 3 google finance widgets
Screen 3 (home)--Beautiful Smaller Home, 2 folders (Email and Internets), dialer and message count widget
Screen 4--Power control and music widget
Screen 5--Beautiful Vibrate and Silent widgets, Set CPU widget and Gallery icon
I have lots of open space but I dig being able to see my wallpaper. Also Smoked Glass widgets, drop down and app drawer are maximum sexy.