I have the Living Greyhawk Book and it has almost as many deities as the FRCS. As a player I think I really get into worlds with 100 religions because I enjoy big things, epic adventures, maps that show continents 3000 miles wide, etc...
BUT. I'm in the middle of designing a home brew world and I'm trying to think about people new to the game who might find that many gods overwhelming. At the same time, I'm not quite sure that the PHB gods offer enough variety. What I've done is taken the PHB gods and added five more that seemed missing (a moon god, a god of knowledge, etc...)
Also, do all of you think of Wee Jas worshippers as evil? In the world I'm developing I've put the religion of Wee Jas in charge of looking over burial grounds and destroying undead (a la Kelemvor) and even detailed what her paladins are like. Does this go against the way her religion is usually depicted? (not that I mind being different).
Anyway, thanks for the posts and keep em coming...