I do go off of the guide for setups, but I also experiment with making my own and/or tweaking ones that are listed for arcade/simulation. Like for example, I like running 0.5 wedge or if it's "arcade - tight" I may add a wedge in the pits

Oh interesting, I thought about using wedge for arcade but didn't know if it would have an effect at all. Definitely try other setups though, I could very well be wrong for some.

I also think it can also be preference of the person playing lol, but I do believe that yours is a good starting point. Like for Richmond, I struggled for an hour tweaking simulation and couldn't find a good one compared to the arcade one. I still think that it is possible, and could result in faster times