I think 3 minutes are the most popular setting.
In regard to events, it is nice what we are moving away from a small buffer time in the camera and toward whole segments of footage.
Now i just have to acustom myself with using the damn event button, cuz in the past years i have been using mental notes and with my memory thats not the best approach, at least not if i dont get the footage off the camera at once.
24 hours later i can still remember there was something interesting in my drive yesterday, but where in the 2 X 45 minute drive are usually gone by then.
I especially like cameras with a remote event button so i dont have to lean forward and mess around in front of the mirror.
Dont fear the huge numbers of files, if you want to save a drive to one file it just take you dropping XX files into what ever editor you like to use ( cameras with no overlap between segments )
If you have a camera with overlap ( often 1 second ) then there is a good chance that camera are supported by registrator viewer ( RV ), and using that to save a drive or parts of one making up of XX segments are pretty easy and just take 4-5 clicks of the mouse, and RV will automatic remove the overlap in between segments once you have entered that time ( 1000 ms / 1 second ) once into the software, and then output your XX number of files as one single file.
And RV can strip GPS metadata from the footage, and it can strip audio, and best of all it handle the original format and dont do anything to change the quality of the footage.