I have ap 1 GW-4 plus the 56 and 60 Vokeys. I hit my 56 around 90-100 and smooth PW about 130 or so. The gap wedge (W) fills the slot perfectly for me. I can step on it and hit it 125 but really prefer to swing my wedges easy and it's my go to from 100-115. I had a 110 shot on Friday, on hardpan, under a tree and had to keep it low. My proV skipped once and bit 8' feet away from the pin. I also use it on those 50-75 yard middle of the fairway and nothing between you and the green shots. I get some good spin and great control with it. If you like the PW as much as I do, you should love the W. Just subtract 15 yards or so and it's the same club.    

Scott

I've been using a SM3 50-08 since last year. I originally bent it to 51* which would match the loft of the W (I set it up to match the DCI W) and because I had my 54-11 bent 1* weak; I used it as a PW with my Eye 2s before (I had a W in the Eye 2 set and it was OK for pitching from 60 yards but not so hot closer in).  When I switched to AP1s, changed my SW to SM3 54-14 (I like the sole better than the SM4 because it works well equally on tight and soft lies) and replaced my LWs with an SM4 60-10 (bent 1* strong), I bent the loft to 49* and shortened the length to 35.25.   I hit it somewhere in the vicinity of 100 yards with a full swing but the primary purpose is pitching and I pretty much nail my shots between 50-100 yards.  Great club for bump n run shots and also works well for long bunker shots in soft sand.  I prefer it hands down to the 48 and 52 (the 48 is too long and the 52 wasn't any value added in 2007). 

My history with set wedges is I played X/31 PW between 1979-2006 (it has the same loft as the modern gap wedge), Golfsmith P2 51* gap between 2007-2009, DIY (Snake Eyes Q3I) PW and SW 2009-2011, alternating between Eye 2+ W and DCI W before getting the 50-08.   I've had the AP1 PW since May of this year and I play it like I did the 9 iron in my Eye set (I actually prefer to use the AP1 PW vs a Vokey 46 because of its intended use).  I find the 50 much more versatile vs the set wedges (with the exception of the Snake Eyes clubs because I got to be a whiz with the PW and SW and the latter actually outperformed many specialty wedges in the bunkers).  The X/31 and P2 wedges were great on full swings and good for pitching and around the greens but would dig a hole to China in bunkers.  The DCI 981 was OK for pitching, around the greens and even for long bunker shots, but I struggled on full swings.   The Eye 2+ was great for full shots, pitching and long bunker shots but horrible off tight lies (the leading edge has a substantial bounce on it).  

You can also get the 50 in either 50-08 or 50-12.   If you bent the 50-12 2* strong, you would still have 48-10 and that is a pretty good bounce to use on fairways or in soft bunkers AND you would have the distance.  Even 49-07 (50-08 bent 1* strong) is good.  

Also another thing to think about is practicing working the PW and maybe even the 9 iron.  One shouldn't really try to step on the Vokeys.   For each 1/2" you choke down the handle, you shorten distance by ~10 yards on a full swing, ~5 yards on a half swing and ~2.5 yards on a 1/4 swing/chip (Dave Pelz golf tips).   So if you grip halfway down the handle on the PW, you should be able to hit it 120 yards; 110 yards all the way choked.   If you're hitting a PW 130 yards on a full swing, you should be able to do a 100 yard full pitch.  If you hit a 9 iron 140, you should be able to pitch it 110.    

I did the same thing but with 710's and have the 50.08 Vokey vs. the gap AP1.  It's all because I love what I can do with the Vokey. You nailed it on the versatility for multiple shots but also it's great for full shots.

Usually when I take a full shot with the 50-08 it is because I have to carry a greenside bunker or drop the ball on a dime between 80-100 yards.  

I have the 710 ap1s and have recently replaced the GW with a SM 4 50 and the PW with a 46 SM4 bent one degree strong. Although I have lost a couple yards with each club, I love the feel and control that I gain with vokeys. Plus it allows me to put a lot more spin on my wedge shots. 

I just replaced my AP1 9 and P with a 735*CM 9 iron after a little bit of a session with the latter (almost never use the 9 iron anyway and the 735*CM had a loft of 44*).   Now the 50-08 is back in PW capacity.   I have the 735*CM 8 iron and it is OK but the AP1 8 iron has been pretty faithful.

So much for that hare-brained idea.  A trip to the park this morning changed that.  While the AP1 PW and 735*CM were about equal for pitching distances, the former got 10 more yards on a full swing and was easier to hit out of the sandbox (it has some deep, fine sand).