Don't forget that you will have to change the offset value on your cutter if you change to a different degree blade.
Normally the manufacturer will have the offset value written on the packaging of the blade.
I am going to give the two extremes of angle blades as an example:
1) 60 degree - good for cutting thicker material such as reflective vinyl, sandblast rubber etc. Also good for smaller fonts (needs to be done slower).
2) 30 degree - good for thinner vinyl material and larger fonts (can run faster)
The 45 degree blade is the normal in between these.
Explanation:
1) A steeper, angled blade (60°) is tall enough to cut all the way through thick materials and pivots easier when cutting corners.
2) A standard or lower degree blade may not cut thicker materials because the blade gets buried in the material.
I tend to use the 45 degree blade for everything except for thick vinyl like reflective vinyl.
I think the 45 degree would still be good for cutting thick vinyl, until it comes to a corner, at this point when it pivots it can give a nasty effect.