I don't like to have more than 2 or 3 pins, and sometimes just one, set at either 25 or 30 yards. If three, 20, 30, and 40 yards. But multiple pins can be confusing, especially in low light, and matters little that they're different colors.
But last bowhunting trip, I used no pins at all, just a simple recurve with no sights. Not once did I ever get confused about which pin to use, but did have to limit my shots to under 20 yards. Barry Wensel I'm not.