Towzzer,,Only existing circuits suppling ranges/dryers, and also cooktops,are still allowed to use the 3 wire cord sets. If you are running a new circuit, you must run a 4-wire circuit.A full size ground is needed.(#10 awg for 40/60 amp circuits).As far as derating the grounded conductor, i believe you could only do that for the 3-wire circuits.Check article 210.19 (3) exception 2 if this applies to you.
Rick