I use the Wasp from any distance between 150' and 330'.
The Wasp is Discraft's stable to overstable Midrange. It has a 1.5 rating, and very similar shape and flight to Innova's Roc. The flight is straight and true in any headwind that's not insane, and it will often finish with fade. The best thing about this disc is the range of speeds that it can be thrown at and maintain the same line. While many discs will fly differently when thrown harder or softer, this disc will simply fly shorter or longer. How is this possible? Well I'm glad you asked.
The Wasp, when brand new, is stable to the core, with aspects of overstability. While it has been produced in ESP Plastic, it is currently only in Z plastic. Both plastics produce an overstable disc. It will never flip over, and will fade out a little early when brand new. For players with less power (who throw mids at about 200') this is a great overstable disc to keep in the bag. It won't ever flip, but it will also have enough glide not to drop straight to the ground. For higher power players, this is a disc that is straight out of the bag with a decent fade at the end of every flight.
However, this disc will slowly beat in until it is a very straight flying disc. It may take a while to get to this point, but it is worth it. When beat in, it still resists flipping in any headwind. I've tried it at 20+mph and there is no flipping this disc. It will slowly slide to the right on a RHBH throw, but it will never really turn over. And, if given the height, it will have a slight fade at the end of its flight like it did when it was brand new. What's great about this disc is that it acts like a Roc in premium plastic, but you don't have to pay the premium price to get it. And just like a Roc, the power range is huge. Because of the bead and the flat top on this disc, it resists turning if you throw it downhill or fading if you throw it uphill. I've thrown this disc 420' downhill and it doesn't flip at all. I've also thrown it 250' uphill and it sat down flat without fading. This is why the disc is great for pros but also great for someone with low power-it flies on a very similar path regardless of power.
For myself, I use this disc for a number of shots, but the main one is a straight or hyzer approach shot. If I'm between 150' and 330' with a straight shot at the basket on flat ground, I'm grabbing the wasp. If I'm between 150' and 300' but I need to hyzer it in there, I'm reaching for the Wasp as well. The only thing I don't like about this disc is throwing it forehand. Maybe because of the bead, I'm not sure, but I have problems with throwing it smoothly on a consistent basis. Even though this is the only disc in my bag I don't throw forehand, it remains a staple because of how well I throw it backhand.