For most of those settings, it's really based on the makeup of your team. Examine the play by play, observe what's happening, and tweak the management console settings according to your observations to try to maximize the good results and minimize the bad ones.
As far as arguing goes: supposedly, your team gets a half-inning "boost" when the manager gets tossed. But then the bench coach runs the team for the rest of the game, and his strategy rating comes into play.