Davidc's last two sentences are of course bang on.
A bike should really be "tailored" to suit the individual & the role the bike is expected to meet. Appologies for stating the obvious and one man's meat etc.
In the USA, Adventure Cycling, we were weaned on "gear inches" which "commonised" all the chainsets & cassettes. For example, and again I apologise if I am stating the already well known (Aberal), we were advised that for steep hills (whatever they are), we should be looking at 20 - 25 gear inches. I wanted a steep hill bike (or a Blackpool sea-breeze bike), I'm like some other CCer in that anything that assists anno dominii is welcome, so my current chainset is 42/32/22 & my cassette is 32/?. Divide the small front ie 22 by the large rear ie 32 & multiply by the wheel diameter, in my case 26". My gear inches are therefore 17.9. This is actually below the steep hill gear inch range recommended. This suits me fine as I was told this bike can climb walls - not quite, but it is useful on the steeper grads. However, I will not be breaking any flat or downhill speed records.
As a matter of interest (maybe!) for medium hills approx 40 gi, flats approx 70 gi, downhills approx 100gi. Also, a gear inch is the distance travelled in one pedalled revolution.
I noticed that Aberal's gear inches are 31.7 quoted. This would be too difficult for me.
Hope I don't live to regret doing this post - thanks for bearing up with me.