Good question. It all depends on your situation. Base camping? Back packing? Alot or moderate amount of wood prep?
If I'm car or base camping I usually have some combination of a axe, wedge, hatchet, large saw, machete, chopper, smalls, multi's... all the toys. A good splitting axe/maul, wedge can't be beat. As long as I don't have to carry it around...
Backpacking with the need for firewood or shelter prep is handled by my B11 or DFLE. They are light enough and versatile enough to manage most of the big jobs, especially used in conjunction with a good folding saw (like a Silky.) I don't like to carry an axe and find a hatchet too limiting. A folder and maybe slicer for food prep is about all else that I need.