For most newer bows people start at 20 yards and work their way back in 10 yard increments. How far depends on how many pins you have. My bow only shoots in the low 200 fps range and I still start at 20 yards.

If you use a peep you really don't need a kisser button, which is the little disk you put in the corner of your mouth. They both do the same thing so they are reduntant and you are just adding more weight to your string which will slow it down and may even cause more noise on the shot.

And a peep is more accurate providing it is set up correctly. A kisser button is an alternitive to the peep not something to be used with the peep sight. Most do not use a kisser correctly anyway. You should not put it in the corner of your mouth since you can move your mouth to "find" the kisser button. This makes for an anchor point that is hard to repeat. And in archery that is what makes you accurate, doing the exact same thing every time. It doesn't really matter if you do it the "right way" as long as you do it the same way and can repeat it from shot to shot. With a kisser button it is better to try and touch it to a tooth or something solid that will not move every time.

You should be able to draw your bow back with your eyes closed, then open them and the peep should be right there. You shouldn't have to move your head or re-adjust the bow to get it there. If this isn't the case your form is either changing from shot to shot and/or your peep needs to be adjusted up or down the string. The peep should be adjusted to you, not the other way around.

Oh, and the nocking point is where arrow nocks to the string. There is usually a brass nock and the arrow goes under it, with a rubber button under the arrow between the arrow and the release head. Moving the brass nock is how you tune the bow, or you can do it with the rest if you want. Download Easton's tuning guide and it will explain it all for you.

A string loop attaches to the string and replaces the brass nock. Advantages are the string does not oscillate to the side when the release lets the string go, it weighs less and it lines the release up directly behind the arrow instead of under it. This would make your set up slightly more forgiving of arrow spine. You can also use it to line the peep up if it does not rotate around correctly. And they have less wear on the string and serving. I have a string loop at the moment but to be honest I can shoot just as well with or without one. If I were setting up a pure hunting bow I would shoot directly off the string just for simplicity sake. And you can shoot a string loop with virtually any mechanical release on the market right now. There may be one or two that won't fit in the loop because of the head design, but most work just fine with them.

Good luck,
Paul