I just had a room about 15 x 15 feet and a backdrop about 10 feet wide... Its very hard to do a group shot @ f/8 ISO 100... Even lighting was a challenge, and when you use brollys, you cut down your light a lot too.
Ive also used two 420ex units and a 580ex (set not to fire) on camera as a master outdoors as a fill flash. Both 420ex units were shooting into a brolly. Results were good, but I didnt have ABs at the time, and for all above applications I would have been a lot happier with AB units.
For a wedding, they usually allow bigger strobes. I would much rather use ABs if you are shooting in areas where you know you can set your lights, remember what settings you are supposed to shoot with, and walk away. I would go with this. At the same time, I would want wireless lights for quick setup of creative shots you would want to do.
I think the lighting more or less depends on your style of shooting and comfort level too. I got very comfortable with using ABs and metering, and I am just as comfortable with speedlights if I can get over the exposure accuracy thing.
Other thing/problem I ran into, was after a bunch of shots, you batteries start to fatigue, and recycle times becomes a huge problem. I dont think waiting 2-5 seconds beteween shots (on low battries) is good when you are in a fast moving situation. And most people are not going to buy 580ex units as salves and attach that CP-E3 batter pack to them. Its not very cost effective. You are going to need 2-3 sets of NiMH rechargables per flash unit...
My cousins wedding, where they hired a pretty good photog, had strobes in every room... most bounce, all triggered by PW units. As she walked into the next room, she changes channels and exposure settings on the camera if applicable. She was very efficent, but also had 3-4 hours to setup prior to guests showing up. Other than that, she had a 580ex on a flash bracket and thats all she was using when not using her strobes...
Range is also an issue with speedlights, so putting them wherever you want, can also be a challenge, you must maintain line of light for maxium range with those units.
Really, both system are great, you just need to understand the limmits. I ended up selling my speedlight system, because I was expecting way to much from them, and was dissapointed in the end. Not saying they suck, I wish I still had the system, since I dont like bringing a trunk full of studio gear to a small shoot.
With speedlights, I had a full min studio in a Canon gadget bag. Pretty neat. If i ever buy it back, Im going to use two 580ex and two 430ex units, since I have better exposure control in manual mode (and the option of ETTL).