95% or more in the drops.

I have my bikes setup to facilitate this, though my bar tops are still considerably lower than my seat. I would have to lower my bars at least two inches for my wrists to be comfortable in the hoods... all to get the same comfort and worse shifting and braking. I'd only consider this if I got the bug to build another campy bike (I can't shift campy worth a darn from the drops).

The multiple hand position argument is entirely lost on me, as I'd rather have one good position than three marginal ones.

The missing 5%? Sitting at a stoplight, coasting through a parking lot, or I'll occasionally maintain a cruising speed with my hands at the corners behind the drops. My back stays at the same angle though, with my arms bent.

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Oddly enough... if I'm riding on a trainer I spend about 50% of the time in the hoods. I have no idea why it's tolerable inside, but not out on the road.