What setting are you guys using for engine braking? Any advice for the best setting (1,2 or 3)?

I really think it all depends on your riding style . If you like more or less engine braking really . I think I have mine in the middle setting for riding in the street . I like engine braking and with the quick shift down option i use it like a pre braking into a turn . It’s all personal preference and riding style dependent . I would suggest trying a few different setting and go and ride the same stretch of roads and see what works best for how you ride .

Using 3 (least compression) may save a bit on engine wear.

I would say engine braking would have less to do with engine wear and tear then it would on your clutch components and trans. More engine braking may wear down your clutch plates quicker but the design of the engine is to rev high and low very quickly . That’s my take on it and my way of thinking personally .

I have it turned off...
Anybody else have it off too?

I have it turned off for most street riding; if I plan to ride really aggressively then I turn it on. For street even at a spirited pace hard to trail brake w/ how good the engine braking is on that bike and the aggressive brakes too.

I run mine at the lowest setting. I haven't turned it off just yet. I prefer less engine braking.

Didn't know it could be turned off completely. I'm running mine on 2, will change to 3 (lowest setting) and see how it goes.

yeah just can't do it on the fly; can only turn it off completely in riding mode settings or 1-3 which you can adjust on the fly

I prefer strong engine breaking, since I ride a lot in traffic in the SF Bay Area...
I think for a long road trip or light freeway traffic I would dial it down... but I do enjoy the lack of having to hit breaks hard to get to a near stop in and out of traffic.