There really isn't a "best" setting. It depends on what you're trying to take a picture of. If you just want a snapshot, the auto settings work quite well.
Here's a shot I took of some water drops (which I think came out well): Android Uploads - SomeAudioGuy's Photos
To get this shot I switch over to Macro mode, then underexposed by 1.5 for a faster shutter.
There is a reason why REAL cameras have so many settings. There simply isn't one setting that will do what you want, all the time. Knowing a bit about photography (grab a good, or read up in a photography forum) will help you get the most out of it. Since I only use my Epic as a camera for those quick quirky photos, the auto settings are usually sufficient, but given more time to choose settings, there are usually better settings for each scenario. There's a reason I keep my DSLR close to me wherever I go.