Lenshoods: Required or excess baggage?

After reading about how important it is to have a good lens hood for my Mamiya RB camera, I looked around at prices. (wow$$!) I was also out and about Unv. of Toronto on several weekends when all the pro wedding photogs were out. They all have this monsterous bellows style lens hoods. Some even looked bigger than the camera!
I have only noticed one flare in my 6x7 negs. I have used my hat a couple of times to shade the lens, but most of the time it's never been an issue. All my Mamiya lenses are "C" models, having been told that the non C are prone to flare. Generally I have an orange filter on the end too (unless shooting colour, then no filter).

So my questions are:
Who here owns and actually uses these things?
Do I really need one?
Small rubber ring or monster bellows?