Wedge works well in a shock (Ghazi f.e.) vs. spearmen battle, units also move faster in wedge formation.
I used wedge in the end game with depleted (cav)units to increase the damage they initially did.
(on a historical note : The french lost at agincourt because they were heavily armoured, which sunk them in the mud. Too many french, they trampled eachother).
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