To check with a release, I just use it like I would with a compound bow. The trick is drawing to 28"... I'd suggest marking an arrow to 28" and shoot it several times, watch the flight and how it tunes... also if your arrow is weak you want to INCREASE the brace height to stiffen the arrow, not decrease it. Lower BH=faster arrow, more breaking down of spine. Higher BH=Slower arrow, less breaking down of spine. No matter what you do first, you have to systematically change only one thing at a time, tune that part, then move on to the next. I would start by choosing the arrow and broadhead set up you desire to use, then tune the bow around that beginning with the lowest brace height the manufacturer recommends... I believe on a PSR that is 7".
Mine (PSR III) was a 54-55# @ 28". I shot split fingers. I used Easton Epic 500 N-Fused with 150-200 grains up front cut to 29" with 3 5" helical feathers. FF Black Widow string. Brace height was 7 1/2"... Nock was just under 1/8th if I recall properly... and they shot like darts right where I looked.
Check this site out... I think it is pretty definitive on tuning:
http://www.bowmaker.net/tuning.htm Good luck and enjoy that bow! I miss mine immensely!!