I agree with Bob. If I were a serious target shooter, I'd probably use 4" or even 3" feathers (among other things) to pick up that tiny bit of speed. I do shoot quite a few tournaments, but hunting is priority, so I use the exact same set-up (minus broadheads) for tournaments as I hunt with, which includes 5" feathers.

I don't use them to avoid tuning. I can shoot at least 20 yds (with field points) with no fletchings at all, as long as my release is decent. I use them because Murphy's Law often works overtime with me, especially when hunting. If I draw short due to being in an awkward position or just getting in a hurry, or pluck the string, etc. the larger feathers will help cover my mistake. I don't like to go super big, like a maxi-fletch or high back bananna cut, due to the extra noise.

Like Bob said, it's give and take; or as my favorite bowyer says, "Everything is a trade-off".

Chad