Edit:
Ok here are the settings I use:
HIPS: change to Learning mode for 14 days. Once every action has been learnt, for maximum protection change to Policy Based (Follow rules, if not block), or for some user interaction change to Interactive Mode (Follow rules, if not ask, if not allow on failure to respond to ask).
If you happen to want to uninstall something or install something and you on policy based, change to learning and once done, change it back.
Threatsense: Strictly no cleaning (I like to know whats happening).
Enable Potential Unwanted Programs and Potential Unsafe Programs.
Web module is fine as default.
On firewall component: Ensure that on IDS and advanced options: Allow UPNP for system services in the Trusted zone is ticked (you will need this to stream stuff from xbox and ps3 etc).
As for the firewall mode, you got several options. The best is to read
this.
Finally, if you check loveboy_lion and my config pages, you will see some settings etc for optimization (unfortunately you will need to search a bit).