Informal place setting
Mostly you will probably want something a little less formal, think about fine restaurants, there will be silverware for the appetiser and main, wine and water glasses, napkin and possibly a side plate set out as described above.
Before the dessert the waiter will reset the silverware, and bring appropriate plates and knives after that for the cheese. You too can do this and there are pros and cons :
You could get away with a quick rinse and use again, but remember your guests will be without you at the table whilst this is going on.
The table would look less cluttered and guests would be more sure of which knife and fork to use, but then you would need to go around the table in the middle of the meal to reset the silverware for the next course, which can look a bit too informal and gives you less time to concentrate on socialising.
Similarly, unless you are matching different wines to each course, people will probably stick to the same one throughout, therefore will not need more than one wine glass, so you could remove the extras at the start, as indeed they do in restaurants. This again will take time and disrupt the seamless organisation you are aiming for, though the table will be less crowded, and eliminate the dilemma of ‘which glass is mine?’
The choice is yours and you will know what is suitable for each occasion, if the less formal is more your style, just bear in mind that fine restaurants have lots of staff to see to the table as the meal progresses, at home there is only you!