I like the approach of Arch. I do a clean install, add the applications that I want, and leave virtually all of the settings at their defaults. In one respect it is a highly customized system since the installed software is tailored to my needs. On the other hand, I am not spending time tweaking settings.

When I use systems where the vendor installs a lot of software by default (it doesn't matter whether it's another Linux distribution or Windows), I am easily annoyed by how much stuff gets in my way visually or in terms of performances. That leaves me with an intense desire to debloat. I try to resist the urge, but am usually unsuccessful.