It's been a year, and I've changed a few settings based on how I am learning.
First my learning process is to review each new card until I've gotten it right three times in a row, then use the SRS system for long term memory review and testing. Thus, for each thing I wish to test, I have to sets of test settings - one for new words and one for review.
I only recently learned that getting a card wrong resets your score to the lowest value, which is reasonable if you only use the SRS for memory training.
However, with my system, if I get a character wrong, I am forced to review it three more times correctly in a row before it goes back into the SRS rotation. Thus, I do not want to reset my scores back to a low value. Instead I'm reducing the score by 50%. My justification is, if I "forgotten" something I already know, I'll relearn it faster and remember it better the next time it comes around, so I don't want it to show up as often as characters I am in the process of learning for the first time.
Perhaps if I were starting again, I use only just use the SRS, in which case I'd use only the review test profiles with all the character filters turned off and the default scoring parameters, and forget the new words test profiles.
Notes: For the tests, I normally set the # of cards to use per session to "all". If I'm in a hurry, and I only want to do a few, I'll set a lower number and have several review sessions during the day, depending on my mood, drive, and how far behind I am. I'm I'm all caught up, I'll leave it on "all".
Since my deck has a lot of single words and characters, it can sometimes be hard to figure out what character/word I am being tested on without having context. Since I cannot give myself context, I instead also show the character and pronounciation. Take for example, 还. Is that hai2? or huan2? or xuan2? (ok, I'm cheating. That last one is really obscure), or shi4 (是? 世? 事? 士? 室?... ) I'm running into this more and more as I learn new characters/words/meanings, so for listening, and writing, I'm giving my self some extra information in order to help me figure out which character I should be recognizing, writing, speaking, whatever.
I suspect I may not be using optimal settings, so I'm always open to suggestions on how to improve my settings.
I guess this is why Mike want's to hide some of the test settings in the future. ;-)