Three Wide Receivers, or two? Keep in mind, there is a flex, too.
For 12 teams? Probably 2. Makes it more competitive when you're setting your roster.
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This is tough!
2 receivers because you have a flex.
In one league I was in last yr we did QB/RB/RB/WR/WR/WR/TE/Flex/K/D, we had 12 and it worked fine. Either way is fine with me.
Problem is you might want to make a smaller bench for that then.
I rather have a bigger bench, but I'm indifferent.
I also like to keep our rosters to 9 active starting units.