My longest iron is a 39" 3 iron at 21 degrees. I was crushing it off the deck last time I hit some balls. I also have an old blade 1 iron that I hit off the deck a couple times; about 39.25" and 17 degrees. Though it wasn't very forgiving obviously (toe hits lost 40 yards vs the 3i) and the shaft is bad for me, I could get it in the air OK. It was less accurate than the 3i based on my few shots, but it went a lot farther. Carry was about the same but the 1i had a very shallow descent and lower peak, I'd say 10-20 feet lower. This is with a handful of range balls apiece of varied condition, hitting a standard fade. The shaft on the 1 iron was lighter and softer, though I don't think it made much difference outside of feel. My hybrid is the same loft but it's more like a 5 wood with a short shaft than anything, and the flight is a lot higher and more accurate on bad hits. Plus I can carry it a lot longer, about 20 yards or so.
But my 3 wood is 42.75", as it was when it was stock, despite being only 13 degrees. I have no trouble hitting my hybrid (41/17) off the deck, but the 3 wood is not an easy club to hit high off the deck. That was the one club I was still having trouble hitting off the deck, though it was excellent off the tee, both taking out the left side and getting a good carry.
So for me, the modern standard works fine as long as I stick to clubs with a bit of forgiveness, CB irons and modern woods. I don't like strong lofts on my irons because I can use the stopping power, but I like them on my woods for trajectory control. It's also very hard to control distance with the long clubs, especially if all your clubs are squished together with 2 and 3 degree loft gaps. The more clubs you can save for your long game the better. Shaft length is relative to your size, but about 42 inches is the longest I can swing comfortably on ground strokes without the fear of a fat shot and I'm 6 feet tall. Don't forget that the RBZ line of woods is also overlength, if I remember correctly. I wouldn't use a 43.5" 3 wood under any circumstances given how hard 42.75" still is to hit. Let alone a 47" driver.