If like you said the php has changed and the comments in php.net about the client timezone and clock doesn't apply. I think it will delete the cookie (phyiscally) and it will reduce the cookie number.
Yes, 3-4 cookies will be enough. But if we have the sections such as dealers section, affiliates section, clients section etc. then the cookie numbers are up.
Plus if we install the third party software such as gallery, forum ... the cookie number will be up too (and worst of all, we don't know how many cookies they use in the third party software.)
So the cookie number could reach to 20 easily in some projects like that.
So I am trying to use as less number cookies as I can. Such as use array (or use the cookile and serialize as floodboy suggest.) and I also want to make sure that the cookie will be expired when it is not needed.
How do you guys handle these issues?