I prefer a light top/heavy bottom setup myself.
For E on a 24,75" scale, I use 10-52.
For my 7-string, i use a 10-52 set, plus a .65 bass string. Works perfectly for me.
On my Gibson, I use a 11-52 set, for tuning down a half step.
As for picks, I go for stiff, hard picks of regular size. I tried the whole Jazz III trip for a while, but I decided to get my chops up with the regular-sized ones instead. I found that my attack soundend weaker with the smaller picks, even though I was undeniably more precise. Currently, I'm rockin' the green Dunlop Tortex .88 picks.