Do the "pinch test" for the low end:
Get it running and fully warmed up. Bring it down to the lowest idle it will maintain and let it stabilize for a 10 seconds or more.
Pinch closed the fuel line going to the carb. Use a tool (needle nose pliers, whatever) if anywhere near the prop. If it has a remote needle valve, use the line between the needle valve and the carb.
If while pinched it picks up speed, before finally dying, the idle setting is too rich.
If it just dies very quickly, it is too lean.
Find the magic setting where it runs for a little, but barely increases rpm (If at all) before running out of fuel. Releasing the pinch before it dies would result in it continuing to run smoothly.
You may find that you can go even lower for the idle speed than before. Repeat the test if you do lower it, although any further adjustment will be smaller.
Check the fast transition from idle to full speed. It should now respond very quickly, with no hesitation.
As a final check, with it running at full throttle, hold the plane and point the nose straight up for 5-10 seconds, to verify that the high end isn't too lean when pulling fuel against gravity.
Small changes to the high end will have little effect on the low end. You'll likely only have to adjust again if you change props or fuel. The high end may need a few clicks one way or the other if there are big changes in air temps or humidity (as well as fuel or prop).
All that said, if it is a brand new engine, you may have to tweak it on both ends a couple of more times until it is fully broken in, but it won't need big changes.