Eric,
Gear ratios are reletive to the amount of line (1) turn of the handle will bring in.
Examples would be:
5.4:1 28"
6.4:1 31"
7.1:1 34"
Each gear ratio would be determined by the lure or lures you would use more often with it. An example is a crankbait. With most crankbaits, you would want a slower gear ratio to allow that bait to perform as designed. Too fast will change the action designed into it. The opposite is true fishing say a, buzzbait. It will fish easier with a fast ratio.
Many of the pro's are using high speed for pitching and flipping. That mostly has to do with getting the lure back in fast if it isn't bit immediately, so they can make the next pitch sooner. Thus, getting in dozens more presentaions in a shorter time. Tournament time limitations you know. That has led to many fisherman using a high speed ratio (because the pro's do), when they don't necessarily need it.
Getting the proper gear ratio makes sense. To consciously slow down or speed up retrieve with the wrong ratio gets tiring. If one can't afford numerous ratios for different baits, I suggest a medium (6.3 or 6.4:1).