[Xperia Play Q&A, Help & Troubleshooting] Masters2150:
This is assuming you have ultimate:

Under STATUS:

Profile: Advanced

Under CONTROLS:

Mobile data: Enabled

Wifi: Enabled (You can use wifi prefered if you want, it just will ALWAYS enable wifi, wait for a signal, connect, or wait for a signal if theres none, then finally connect data. I prefer to not use wifi prefered, as it takes longer to connect. I'll just do it myself.

AutoSync: PING. You can have juice defender also enable/disdable background data. I don't because it's still experimental, I'll use it once it's stable.

Keep enabled: Disable both of these (not lit up) if they aren't already.

Bluetooth: Use it if ya have a bluetooth device, leave it disabled if ya don't.

Timeout: I don't use it, as I already have the settings in the android settings itself. And I have found it can sometiems cause problems. Try it out, but if it doesn't work, you'll have to reinstall JD.

Auto Brightness: Keep disdabled, same thign with android's auto brightness, uses more. I prefer to use RootDim. also, it gives an error saying a light sensor isn't on the Play, which is weird because it does. So the feature is still in beta.

CPU: This is an underclocking utility to save battery power. enable it, but don't touch the underclock settings, you're gaming performance will decrease. Underclock it only if your a moron for buying a Play to not use it for gaming. Go down to the governor setting and change it to conservative. governmors are explained herE:

http://xdaforums.com/showthread.php?t=843406

GPS: Seems good but still in beta. Will wait for release to test.

Under Schedule:

Schedule: ENABLED

Frequency and Duration: These mainly come into play while the program is asleep. It will enable the device every so often, and keep it enabled for atleast a sertain amount of time. this is to let background data and sync get your emails and such. I have mine set to 30min and 30 seconds. So every 30 mins, connectivity will enable for 30 seconds. don't worry, if you have alot to sync for some reason, it doesn't cut off, it will stay enabled until it's done. (this is set on another setting.)

controls: Default

Night: Enable this and set it to whenever you usually goto bed, and when you usually get up in the morning.

Adaptive start end: I have mine set to +30m max, end -1hmax. This depends totally on you.

Options: Silent

Peak: I keep this disabled. Use it based on the instructions if you REALLY want it.

Weekend and Night(weekend): I don't use these, go ahead if you want to. I keep them disabled.

Under Triggers:

Battery and battery threashhold: I keep mine enabled and at 15%. This means if the battery hits 15%, all conectivity save the cell, is disabled. You can set this lower or higher if you want. If you're under the threshhold and you want to turn connections on, pull down your menu, click on the JD icon, a box will come up allowing you to enable conections until you lock your screen.

Charger: only AC is enabled. Can choose either of the others if ya want. USB would mean it takes longer to charge.

Screen: ENABLED

Options: Enable Ignore on Low Battery. this makes the battery threshhold thing work.

controls: default

Traffic: ENABLED

Traffic Threashhold: I have mine set to NORMAL 15s. What this means is that as long as theres an active connection, JD will not disable anything. But once the connection is finished, it turns it off and goes back to normal. so for my settings, as long as there is 10Kb of data every 15 seconds, it will stay connected. If it falls below that, disabled.

Apps: ENABLED

Configure: Interactive. Go and click on CONFIGURE APPS. This allows you to set up connection profiles for every app with 4 settings, ENABLED, ENABLED/SCREEN OFF, DISABLED, DO NOTHING. Enabled means connections will stay on inside that app. ENABLED/SCREEN OFF means if that app is running when the screen is off or asleep it stays enabled, I don't use it as it isn't very battery saving. DISABLED, when you go into the app, connections are disabled. DO NOTHING, if you go into the app, nothing happends.

Use ENABLED for apps that use the internet, browser, market, etc.

I never use ENABLED/SCREEN OFF for anything.

DISABLED: Use this for games, and other programs that don't use the internet that you use for long periods of time, such at FPSE, Mugen, etc.

DO NOTHING: Use this for apps that may not use the internet, but you're only going to use it fast. If you give these apps disabled, more battery it used to disable and enable connections every time you go into it.

LOCATION: This is really only useful is Wifi Prefered is enabled, otherwise even if this is enabled, it won't work. What this does is keep track of Wifi you have passwords to, and wifi hotspots. If you unlock your phone near one, it will auto connect to it. As well it keeps track of the range of the wireless signal, so it will know when it can connect. This takes a while for it to train.

After a day or so, you can goto the ABOUT tab and it will tell you approximately how much JD has increased your battery life by. On my X10 I was hitting 2.2x. But on Play I'm at about 1.8x. Then again it's a gaming phone, so no surprise.

Hope this helps!