I'll try and guide you, but it's a long dialogue with settings:
GENERAL
ASCII / Binary is an old left over, either should work binary means simpler machine code.
Language level higher has more features, but requires newer rips. Level 2 is old, and does not have as smart alogarithms for smooth fills. 3 is better 2 more compatable.
Font inclusion: none means you strip fonts. Embedded leaves as is. Embedded and reference also adds those fonts that are in your system but not embeded in the PDF.
Converting TrueType ot Type 1, is to make it safer fro older rips that have problems with TrueType.
Preview Tiff is PC standard PICT was old mac standard.
Page range… well I don't need to expand on that do I?
OUTPUT
for eps well you can't print separations you can convert to composite gray thouh, and that can be useful.
Profile is the profile is converted to a postscript simplified profile called CSA.
Applying output preview can be usefull if you have a magazne add and you want to adapt it for Newsprint.
I would normally choose High resoloution flattener.
If you are printing to a copier you may want to simulate overprint, this also can help solve problems with transparency, if you have spot colours that need to be converted to CMYK.
Don't have any opinion on Maximum Image resoloution, but sounds like a good idea ;P
I don't know that the screen values are honoured, usually they are overridden.
MARKS AND BLEED
Personally I prefer thinnest marks, Only Trim Marks, possibly the addition of Page information.
IMO the other marks are outdated (what is needed is added by imposition software).
POSTSCRIPT OPTIONS
For single pages not so important but I will try to explain.
Send at starts sends Fonts and other info once for the file, on slow networks this was important, for each page is safer.
Emit means to forward the information, to uncheck means you trust the next application can handle it just as well or better.
I wouldn't emit anything.
The descriptionsare descriptive, the only thing that might need clarification is flattness. Flattness is how small segments that make up curved forms (Postscript doesn't have curves only straight lines) too small segments means rip crashes or takes unnecessary extra time too large segments mean you will get, in worst case scenario circles looking like octagons.
Hope that was enough detail and I am sure Leonard will correct me where I am wrong ;P