Ok well I have a method to my madness. I go through several steps.
1) Doing Time Trial setup means you have no other deciding factors to your laptime. This is very important as then it's between you and the setup. I have done this in many F1 games to great effect. The reason why this is preferred is because it's the best place to get balance, it is certainly NOT about tyre wear when I do a TT setup. In fact, it's all about pure laptime. This pushes camber, roll bars and other things further towards a high deg setup, but sometimes it doesn't turn out that way! At least not in this F1 game.
In the past I would have put all camber settings and roll bars on full (bars on 11s, camber on -3.50 etc) and need to major tweak .. but it's not the case this year for some reason (on most tracks, but not all), and I find some feedback telling me tyre wear is optimal using my TT setup. That is pure coincidence though ... and is not by design.
2) A Quick Race will have tyre wear, fuel loads (etc) ... which is not what I need for the first setup. I don't want to be tweaking camber/roll bars/suspension/ride heights/wings while still trying to figure out the balance ... AND doing so while fighting other cars on track. Basically, if I can get in the top 2% of drivers in the world using a TT setup, I've found the right one. You cannot indicate this in Quick Race as there's no leaderboard to compare yourself, the only thing you can compare yourself to is the AI ... which is nowhere near optimal. I really need to test my setup against others real times, and sometimes I'll go as far to try other players (rivals) setup to see if it drives better.
On one of my setups I did this very thing ... took another guys setup and tweaked it for my own liking. Should have given credit for it really ... but I forgot. I used M.Rs setup for Azerbaijan as I used it for TT and LOVED it so much I let him know. Since then I found out it absolutely sucks on degradation so the setup needed tweaking quite a bit, but at least the balance of the TT setup remained.
3) What I love about F1 2016 is you get the practice programs which were absent from previous games. The acclimatization program helps you to find out if the car is set up to go around the track and nail the corners as intended at the optimal speeds. If this fails .. then the TT setup is wrong and needs tweaking. Often enough I just need more speed down the straights so I'll adjust the aero, perhaps the ride height a little. If that doesn't work, then it needs an overhaul ... but I've yet to have that issue.
4) After perfecting that, I move on to tyre management which I take very seriously. This is where my TT setup goes through the process of ensuring a "Perfect" score. I won't always get purple on every lap (on some tracks I did, so I felt like tyre wear was too good so I could add more camber/roll bars), but I'll beat the target scores set by Engineer on "Master" difficulty. If I'm only getting green laps, or even red laps, then the setup is not good enough so I'll adjust the cambers and stuff, and just keep trying different things and hope I don't upset the balance. The last thing I want to do is make the car harder to drive than it was in TT. I've yet to find a TT setup I couldn't tweak to get the perfect score.
5) After the first two programs I find Qualifying Pace to be the easiest. I've only ever had a issue completing it twice, and on those occasions all I needed was more aero for straightline speed. The balance and the tyre wear were already sorted ... so it couldn't hurt to change that and give me more speed down the straights.
After these steps are complete, I have a Race Setup. One that isn't very good for TT anymore... but will give less tyre wear, good speed, and ensure corners are hit at their optimal speeds. Everything you need! Now why would I bother doing a setup in Quick Race when I can do it in the way that I am? I fail to see how what I'm doing is wrong and is not a "golden" hint in itself. I've been making setups this way for years now, I do TT setup ... nail that, then tweak it for race conditions. Career mode gives you 90-Minute Practice Sessions with the same factors as a Quick Race and has less cars getting in your way and driving you off track for position.
My methods have always served me well, and other drivers have appreciated the effort and countless hours I put in to setups so they drive well using a controller/ABS brakes/Full traction/auto gears (etc) for those players who are not particularly handy (or care for) with making it a full simulation.