At it simplist. If you take big divots play lots of fluffy lies, High bounce. If you sweep/no divot, tight lies, low loft. Ok bit more to it than that. But if you remember above you will not go far wrong.
The newer "c" grind thats becoming more popular allows the club to have higher bounce but still be as playable as a low bounce club.
Opens more options for bounce selection. My two main stable wedges are 16 and 12 degrees of bounce but play just as well as my 6 degree bounce 60* wedge.