[Tim Cullingworth]

-ABS is not usually very important, maximum (= value 1) is mostly fine. try reducing if you want the car to turn in better on braking.
-Traction control: Some cars manage corners a lot better if you allow a little bit of slipping. Value 1 usually means understeering car when on throttle. Experiment!

One thing to be aware of, is that AC uses 1 on ABS and TC to mean the most active setting and the higher numbers to mean closer to off.

As for using other peoples setups, I had a racer kindly send me his setup, only to find that it was almost un-drivable as it was so twitchy. It later turned out that he was using a game controller, and I was on a wheel.