Jack- are you a pilot or a physicist?
Garland, it was in one of the golf rags from December that I saw this explanation: with V-grooves, or grooves that produce the same spin as V-grooves, the ball will run up the face more than with sharp edged square grooves, thus the intial trajectory will be higher even though there is less spin.
That said, in one of the mags Dave Pelz suggested that we should all add a 64 degree wedge, since the ball will spin less and the added loft will give us a higher initial trajectory.
Both can be right, since much of spin generation depends on clubhead speed. Even on little shots from near the green, the better player generates more clubhead speed than the average player, Thus, with v-grooves, the better player would hit higer shots with a less lofted club than would the poorer player with the same club. It follows, then, that the poorer player might benefit form using more lofter wedges.
Remember that in the balata, v-groove era, alost nobody used a club with more that 56 degrees of loft. Seve Ballesteros railed against 60 degree wedges, saying that noone should need more than 56.