It's all about the difference in stiffness between the front and rear.
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Stiffer at the front
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= understeer, stiffer at the rear
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= oversteer
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(and yes that is a massive generalisation).
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The general consensus of opinion seems to be maximum stiffness at the rear, and the middle setting at the front, I did have both mine set to medium, but soon stiffened up the rear after a few laps, which made cornering far more rewarding, encouraging balancing the turn with throttle input.
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.
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.
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.lots of fun.
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In the wet it's worth backing the stiffness off a bit, making the handling more neutral, reducing the car's attempts to spin out.
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