Well Dylan, it may seem hard for you to believe, but my friend has been successful in his restaurant gig for several years now, and he only does about 10 different effects. He's an older guy, in his mid/late fifties, who talks magic with me often at the college I attend (he also works in the college bookstore during the day). He's a firm believer that its better to have only a few tricks that you absolutely master, then to have a plethora of tricks you do ok with. So he sticks with his 10 or so effect arsenal, mostly coin tricks, and that's what he performs with. And he does well.
The fact is, even if you have 6 solid routines, eventually you will repeat them. And in the restaurant business, you'll often get repeated customers a week, a month, even a year later. Sometimes these customers won't even remind you that you've performed for them before. So how do you make sure you don't repeat the same effect again? Eventually, you will repeat effects. And if you got only 6 routines, working at least 2 -3 hours a night, your going to repeat sooner rather than later. Repeating a trick is no biggie in most cases, if you know how to do it.
I always recommend people have arsenals rather than routines because of many of the things that have been said on this post. With an arsenal, you can develop a small routine that fits best for the situation you come into. Your not trapped by the "walls" of a routine either, therefore your mind is always open to think clearly and creatively. Your also able to feel fresher in your work, not trapped by doing the same, consistent thing over and over. With an arsenal, you're able to have the freedom to start and end quickly, which is important if working in the restaurant scene.
My arsenal is always changing, always improving and updating with the latest things that I can perform well. Some things get temporarily "retired" for a bit while something else new comes in. My arsenal is always rotating and changing. You don' t get that same freedom in routines. As hard as you work to put a routine together, you got to work just as hard to break it down. Habits are hard to break. Even though having an arsenal forces you to think on your feet a little more, and forces you to learn how to read your audience, I always recommend this way first. I'd rather the new guys learn the hard way first, rather than spend more time trying to break habits that don't help them.
Like I said, I'm just trying to help people learn from my own mistakes.
About reset times, note that I agree that most things should be quick moving, quick reset effects. However, I don't agree with telling people to cross off anything that takes longer than 10 seconds to reset right off the bat. If someone has a great, killer effect that perhaps takes 30 seconds to reset, but works great for them, by all means keep that in your arsenal. I've got a couple great attention getters (the one's that get people hollerin, clapping, and get other people to notice me) that take a solid minute or so to reset, and I keep them around every time I perform.
Here's a couple great restaurant effects that take longer to reset:
Kaps on Fire Wallet-when fuel burns off, takes more than 10 seconds to prep again.
Hot Leads-run out of cards and you've got to spend at least a minute prepping another batch of cards.
And there's tons more! But in this example, why would I tell a new guy NOT to get Hot Leads because of the longer reset times when you run out of cards? The fact is, the magician handing out his business cards, especially in this way, is going to BRING him/her more business, and more money! By all means, take the minute or so to reset and start handing those things out again!