I use some fancy flour for my cupcakes, because that's what my cupcake book said to do, and it gave me some reasons (which I can't remember right now) and given my cooking failure rate, I'll do whatever I can to tip the odds in my favour.
If its for a special occasion I use cake flour for cupcakes, birthday cakes etc.
But for everyday stuff I use regular cheap flour.
I dont bake bread though.