I run Gator G-5 high lift mulching blades with an open discharge on my machines most of the time. They have enough lift in most conditions to get a good cut and clippings are small to the point of being almost imperceptible. I don't mind running a 2nd cut at speed over any areas with windrows after the first cut. I double cut most of my front lawns as a matter of course anyway. It just looks better. I've found it to be quicker than bagging.
I'm actually torn right now on whether to put my high lifts on because the heavy spring growth with ample rain is pushing the limits of the G5s, resulting in a poor cut in the really long/lush stuff on some of my accounts. One thing to note is that the end air foil on the G5s wears fairly quickly. I don't think I've ever retired a G5 blade due to the edge being worn out. It's always the air foil.
Edit - BTW, I wouldn't recommend the G5s (and certainly not the thicker G6s) for a machine that's marginally or under powered. It takes a bit to spin them. They got the extra lift out of them by making them wider. They're big/heavy blades.