I play with Baseline recommended+no_emissive_light. Played never with a different setting for 10 years, now.
Only exception is, when a mod deliver own lightning-settings, then i use that, because they exist for a reason in this case.
In classic campaigns without in-game cutscenes i am additional playing with fov 0.39. All ships are much bigger and so it have a much better feeling.
Only in campaigns without cutscenes, because a different fov have the tendency to break them, so you can not see everything that happens there. But i do not know, if this is still the case like it was at least 5 years ago.