Optimizing page titles for search is best done finding a balance between volume and intent.

Bringing this back to the 2 schools of thought, your title keyword composition is going to depend on your goals;

• If optimizing for traffic you want to find combinations to maximize use of high search volume terms.
• If optimizing for conversion you want to pay attention to intent instead of search volume.

In both scenarios I recommend looking for creative ways to combine exact match phrases to leverage strings of keywords that contain several target keywords but are not awkward or stuffed .

I go into some detail on how I find keyword combinations for page titles in this presentation: