Adam,
I'm assuming this is not your first plane. Having said that, set up what looks good, and go with it. I'm on my 3rd Telemaster .40 in 18 years, and my second Sr. Tele. I usually set up the maximum I can get on high rate and about half that for low rate, with about -30% expo if you have that capability.
I haven't found much that you can do to a Telemaster to make it fly bad. I did find, however, that a 3D setting on the elevator throw will make it interesting! You can have a lot of fun with a Telemaster.
go for it,
Randy