I run 46/17 to which is right around 70 gear inches. It gets me up most hills, but for the 5 mile climbs I wimp out and use my geared bike. Maybe someday....
I don't have a flipflop, but if I did I would flip to a freewheel for a long descent. The other day I hit 45.5 on a 5 mile descent, and it was FUN. flying down the hill at 40+ is the reward for the climb. I wouldn't want to have to spin down at 25 riding the brake the whole way.