What're the extra benefits of the bundle? And why would you even bother if you have wings already that makes jumping obsolete?
http://terraria.wikia.com/wiki/Cloud_in_a_Bottle
See the comparison table.
The bundle lets you quadruple jump, chaining each of the secondary jumps from most to least powerful.
I'd presume the bundle would have an even more dramatic effect on the maximum achievable height.