"Best" is a relative term. It really depends on what you're backing up and how important it is to get that data quickly.
Most important items first: make sure you take backups offsite! I know that's not mentioned in your question specifically, but the reminder never hurts. You can pay Iron Mountain to do it for you, take the tape to a safe-deposit box, or take it home. And encrypt that tape while you're at it.
A pretty easy-looking way to set up BE is to use the Policy wizard. In Backup Exec 11d (assume it's still there for newer versions) that will help setup a Grandfather-Father-Son media rotation for you to the backup device of your choice. In 11d, select Backup-->New Policy Using Wizard. I just skimmed it on my backup server, but it should walk you through the details of setting it up. This will let you go back up to a year. Also, if you use the Vaults, you can tell exactly where your tape is (off-site, online, under the mattress, etc.)...if you tell BE where your tape is when you Inventory.
The drawback is that by default it will require more tapes. In fact, you'll need 6 tapes just to make it through the week, as each daily incremental will be on a tape and overwrite protected. This can be nice, but 5 LTOs won't cut it! Best case, you'd have 12 tapes for a year's worth of monthlies, 5 tapes for a month's worth of weeklies, and 5 more for a week's worth of dailies.
Remember that if this is doing any sort of database stuff (mail, SQL, etc.), you probably need some sort of agent for BE to really back it up.
Hope this helps!