Here are the steps I take when setting up a new bow.
First if it is adjustable I set center shot with the arrow just to the left of center. I also make sure the limbs are straight and tracking down the center.
I shoot 3 under so I set my tiller even.
I have lots of arrows on hand, so I start with one I think will be close.
I make sure my arrows are spine matched within 1 lbs of each other and within 3 grains of each other.
I play with brace height (within manufactures recommendations) until it is quiet and vibration free.
I set the nock point at ~1/2 inch above center.
I will then shoot a fletched arrow through paper at about 6 feet. I want to start off weak and tail high. I will cut down the arrow until I have about a 1/4 inch tail left (right hand shooter) and 1/4 inch tail high.
From there I move outside and shoot from 10 yards out to about ~40 yard to look at centershot. If it needs a slight adjustment I make it then.
I then verify with a bare and fletched shaft. I am looking for the bare shaft to impact about 1 inch low and to the right of the fletched at 20 to 25 yards. I find a very slightly weak and nock high arrow is the most accurate for me.
Last thing I do is put a new target face on my target and shoot for about a week to map out where my arrow are hitting. I make very small adjustments to centershot and nock height to get the majority impacting in the center.
I keep a bare shaft in my quiver and shoot it with a fletched periodically to check form.
What is your process for setting up a new bow?