Great question!
It depends on what you're training for, and what you're optimizing for. At my age, I'm optimizing for injury prevention. Training with a lower weight, keeps damage off of my tendons, and reduces rotator cuff injuries.
I'm trying to do as few super heavy reps as I can before 500 to minimize wear and tear injuries. But I'm also trying to do as many as I can, to give my tendons and ligaments a chance to adjust to the weight.