Hi Starpoint,

I'm Flying mine a 5.25" back from the leading edge. But the range is relatively large so you can play with it to get the feel you like. Thrust on mine is 1.5 deg. right 0deg down. some like a little down thrust in the magic. I played with mine till I got almost hands off hovering, very small corrections it keep it in one spot.
Others may reply with different numbers. read all of them, you might fine them interesting. Depending on what you want the airplane to do well, a different setup is needed. EXT. The way mine is setup it dosn't flat spin like others can. For every different setup, theres one of more trade-offs. I have a ton of fun with mine. I hope you will too.