Graham,
Much of this will depend on the microphone you are using. Additionally, there are slight differences between mics, even from the same model and manufacturer.
I encourage everyone to work with the settings, adjust them to suit your needs, and above all, let your ears be the final judge. In my case, the hearing was the third thing to go, therefore, I consult with my spouse to make the final decission of sound quality. After more than 4 decades of nuptual bliss, she has no qualms about provided me with her unbiased opinion on anything.
Gary
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PSR-S950, TC Helicon Harmony-M, Digitech VR, Samson Q7, Sennheiser E855, Custom Console, and lots of other silly stuff!
K+E=W (Knowledge Plus Experience = Wisdom.)