Dip Switch settings for Ortofon 2M Black


I just received the new Pro-Ject Phono Box Ultra 500.  I am using an Ortofon 2M Black cart.  Does anyone know the most desirable dip switch settings ?  Here are Cart specs;

Cartridge Technical specifications:

Frequency range - 20-31.000 Hz
Frequency response - 20-20.000 Hz + 2 / - 0 dB
Tracking ability at 315Hz at recommended tracking force *) - 80 µm
Compliance, dynamic, lateral - 22 µm/mN
Stylus type - Nude Shibata
Stylus tip radius - r/R 6/50 µm
Tracking force range - 1.4-1.7 g (14-17 mN)
Tracking force, recommended - 1.5 g (15 mN)
Tracking angle - 20°

..and here is the dip switch configuration;

1- 220pf

2- 100pf

3- 1kOhm

4- 100kOhm

5- 10 Ohm

6- +3 db 

7- MM 40db

8- MC 60db


Currently, I have 7 (MM) on and everything else in the off setting.

Is that ideal for these specs?  Help..

Thx very much



llippman
As a follow up, I kindly asked the Ortofon rep to simplify her detailed response and give me the switch settings.  She replied with the same settings as both of you BUT added switch 3 as well?  Do you agree?
Many thanks
Thank you so much three_easy_payments.  I appreciate the help.  Pretty funny when a rep from Ortofon doesn't have the right info... 
My guess is that turning switch 3 on while in MM mode wouldn't have affected sound anyway, as the MM loading would have overruled the MC setting.