I use three or four pins. I like the single pin adjustable sights for target shooting but not hunting. I really only use one or two pins when hunting since I limit my shots to around 25 yards, I use the extras for practice.
I have never actually used the wrong pin when shooting. I have forgot to adjust my one pin though and missed. And my bow is not that fast, so a one pin adjustable would mean I would have to hold high at 25 or 30 yards or adjust the sight. Something that isn't to easy to do with a deer infront of you
. With a multi pin sight I can just gap shoot for inbetween yardarges.
You can also use a multi pin sight to range a deer if you practice with it. Another advantage a multi pin sight has is at longer distances you can verify the arrow trajectory and see if anything is in the path. Like say you shoot at something 30 or 40 yards away. The arrow does not shoot flat (at least not mine) so you can use the other pins to see your arrow might hit a branch or something on the way to the target.
If I had a faster bow and strictly bow hunted with it I would probably use a red dot to be honest.
Paul