John,

It's mostly a question of personal style - as I think you've surmised. One or two button is the most traditional and has been, and will be, in style forever. (my black jacket is a two, my ivory is a one) Just like business suits, as you start adding buttons, the jacket starts looking more style-anchored and it will more quickly move out of style as tastes change. Three buttons, done right, aren't bad, but I've seen seven button dinner jackets - and I imagine THEY'LL be out of style by the next celebrity awards show! You may look more stylish now with lots of buttons, but you will relegate yourself to buying another jacket in a year or so.

Think minimal and least flashy, and you are almost always better off for the long haul.

Andre