Plank,
The best thing to do is leave it at factory settings: which are pretty much tailor made for your application. An important step is to calibrate the throttle according to the instructions. ALWAYS leave it on auto timing- it's the setting that will optimize operation with an outrunner- the other settings apply to fixed timing two pole inrunners and high kv/low pole count outnners and will definitely not improve performance. I get by with my lvc at 3.0 (default), but I know a lot of people that go up to 3.2v. After you've flown a few times you can tailor the "start" value to your tastes. The default value is medium hard, but the ZTW have a very powerful starting pulse, so although I know many people who go to the ACC value because they're used to that from another manufacturer, and then realize that the ZTW start pulse on "ACC" is very powerful indeed. Here again, after experimentation, I've settled on the default there too.
Best,
Tim
