I dont like a lot of clutter under my planes.
The odd set of underwing tanks or sidewinders is usually enough to keep me happy.
I'm currently working on an S.2 Buccaneer right now and the only thing I'm hanging under the wings is the slipper tanks as I feel a Buck looks wrong without them, they were such a typical fixture on the type.
If I were doing an F-4 Phantom, I'd probably stick the sidewinders and sparrows on as they were standard gear on most Phantoms, Beyond that, probably just drop tanks or drop tanks on the outer wing stations and a gun pod on centre line if it was appropriate to that particular F-4 variant.