Let's start with the tutorial...
The first thing you have to do, is to unable "Argument" and "Suppressed Errors" from the "View" menu. You can also check the "Show Errors and Specific Events" if you want to (in the next tutz I'll explain why).
Now click on "Specific Events"

Pick "Show errors and specific event" from the combobox, and then check all the things which are checked in the image ;)
I suggest you to check "Apply to all new windows", but it's your choice. Now we can go ahead

Click on "Program" and then on "Settings..." and you'll see this window. Uncheck "Leaks" and "Report errors immediatly", check the save option, and click on "Advanced"

First thing: check IMMEDIATLY ;) the first checkbox, because we need to know if there are cascade errors (ex. with a keyfile :), then... I won't explain the second checkbox :)
Performance optimization:
Cache - If you have a Pentium 4000 you don't give a fuck of this ;)
Suppression - Obviously not checked
Defer - This sweet option lets you update the log window at the end of the program, so if you think that a proggie is running too slow, check this option. You can also keep it checked if you like to :)

Nothing much to explain here, just check everything but the MouseMove events

You have to check all the libraries and ocx standard that we know are not usefull if we are trying to crack the protection. The errors report we have to keep are the ones that somehow can let us to understand the protection. I suggest you to keep MSVB ones and MSVCRT ones (and the file to crack, for sure ;)

Uncheck the error report, and keep checked the events report