I tend to favor the multiple snippet/plugin/TV approach. That way it's relatively straightforward to have a completely custom experience based on a solid core set of functions. For example... some folks might want a single page checkout for a digital download. I prefer a several step process for my cart that can have multiple items. If we try to be all things to all people out of the box, we run the risk of falling into the trap of death-by-featuritis.
If we have multiple little "modules" then we could possibly choose different variations of cart/minicart processors (single products vs. attributes), payment or shipping methods, tax calculation, etc.
Then again, I like to be able to more easily have a function-specific solution exactly tailored to my needs. That doesn't mean it couldn't be accomplished with a one-size-fits all solution though. I just don't know if that's the road we want to go down. (But it certainly COULD be.

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