When I install a brand new copy of WordPress I typically have a ritual of sorts as I fire it up. The default configuration is okay, but I do make changes to better suit my needs and tastes. I feel this is a very important step and worthy of due consideration. I'm not saying this what you should do, nor am I working on their latest version so there's no doubt that if you're using version 2.2, some of these practices may be slightly different.