I have 2 3wts. One is a loomis stream dance, the other is an orvis zero gravity. They dont see much use anymore... but thats because i dont spend much time anymore fishing small stuff.
That being said, i've used them for cutts to 4lbs, and have had zero issues. Biggest fish i landed was a 23" rainbow out of beaver lake 4 years ago. Again zero issues with the proper tippet.
Like someone said above, up to size 8 flies are doable, biggest i've fished is a 4 with heavy dumbell eyes... (thats only because i had a bull chasing my cutty and didnt have a bigger setup) It was stressful on the rod, and not something i'd do on a regular basis.
But if mountain streams + dry flies are your thing, then a 3wt is for you. Thats about all it really covers.
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