If I purchase a new bow I'll set it up usually by eyeballing center shot or measuring off the riser. I normally start with my nock height 1/8" high. Then I'll make a mark on my cam(s) corresponding with my limb forks and measure the exact distance from my nock to a limb tip or dead center of an e-clip on my axle. Then I'll shoot the crap out of my bow for a month while the string stretches. I usually dont begin tuning until after a minimum of 1,000 shots (thats just me). Then I'll go back to my marks on my cams and measure my nock distance to find out just how much that new string stretched. Then I'll put my bow in a press and give my string a few twists until my cam(s) marks line up with the original setting and adjust my nock height if needed (usually not).
After all that is said and done I'll play around with some different shafts to determine what the best spine is for this particular setup. Thats where the paper tune begins for me. My personal opinion of paper tuning is it's not for everyone. It is a great indicator of bow torque which some people just cant seem to overcome.
Anyway , when I choose an arrow to go with my setup I'll then tune my arrow to the rest by putting pool que chalk on my fletchings to see if I'm getting any contact. When the proper spined arrow is selected there is seldom any adjustments I have to make other than a slight index of my nock or adjustment to my launcher arms.
When I've achieved all the above I'll shoot bare shafts from 15 - 20 yds to also check my arrow flight. If their grouping well and impacting the target nice and straight I'm one happy camper!
When it comes to group tuning I prefer to make adustments to my tiller to find the best groups otherwise I'm destroying the process I started with at square one by moving my rest. JMHO!
For those that want to try paper tuning for the first time ; dont get discouraged if you cant get rid of left or right tears no matter how much you move your rest or try different spined arrows. As I said before , it also shows form problems like torque , which some people cant seem to overcome. The normal distance for paper tuning is roughly 3 - 6 feet from the paper. If your tuning a hunting setup with fletched arrows back up to ten yards and normally you'll be shooting bullet holes because the fletchings have stabilized the arrow. Most shots at game are further than 6 feet so you should be o.k.! Also when bare shaft tuning , the further you are from your target the more form problems will show in your groups and how the arrow is impacting the target. There's no better feeling than shooting perfect groups with perfect impact with bare shafts especially knowing that your hunting arrows will have fletchings wich helps stabilize the arrow even more.
After having said all that I still feel the most important part of archery wether it be for hunting or fun is consistancy. Your bow can be all out of whack and if you have consistant form you may never know it or could care less! Back in the 70's Terry Ragsdale won a tournament with a bow that was so out of tune he said he was surprised it even shot!
So if your arrows are grouping great and impacting the target nice and straight your success in the field is up to how you perform under pressure!