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Hi Marc,
You typically want to run -10db at the input and +4db in the effects loop. You want to set the filter tracking full counter clockwise and set the threshold on the first channel first to remove any guitar hum and or feedback and then turn up the threshold on the second channel in the effects loop to remove any gain noise and then turn up the filter tracking until you hear a loss of highs, then back off the filter tracking just to the point where you get the highs back and that is the correct setting for the filter tracking.
Let me know if you have any other questions.
Cheers,
Buck Waller
ISP Technologies