I am running it on a JD 4850:  Have the draft setting (the one to the right of your leg as sitting in the tractor) all the way down think that is the min. position.  The three point lift rods the ones that connect the upper lift arms to the lower 3 point arms have the pins removed so they are in the float position.  (hope that all makes sense) Was going to check tractor operator manual to see if the is the right setting.

  We tried tipping bar back, forward, level. and have kind of setteled on running it where the parallel arms are running the most consistently parallel.  The wings have been tried in the float position and with hydraulic force against them, never bolted down.  Originally had toolbar running at about 18", but then we jacked it up to the book recommended 22" (this is from the ground to bottom of bar)