I will probably only need 2-3 "performance" banks or whatever they're called. The teaching one will be 2 amps, a Fender and Marshall profile so I have my clean/dirty sounds and those two amps cover most rock/pop/blues stuff anyway. Maybe another day I need a Vox AC30 type crunch sound or a Matchless, etc. Then there'll my high gain ones, 5150/Mesa/Diezel VH4 etc. I can have different amps to choose from however I'm feeling.
General home playing I can browse and add according to whatever song I'm doing.
Its only if a particular song has multiple effects like chorus/delay/reverb etc and there's different sections in the song where they're all used at different points. Usually I'm not a massive effects user anyway but for leads and stuff delay and reverb add more sheen!