I did have it flipped to the lowest position though it makes very little difference since the standard stinger deal is more like a tee. The extra drop stingers are a big L but won't come with your standard kits. The big L style will allow you to adjust your hitch head much lower.

So you want your trailer level, you want your W/D bars level with the ground when tightened(2-3 links hanging loose usually), and you want enough tilt on the hitch head so that you have adequate tension on those W/D bars. Setting it up will take a while the first time but you will be rewarded with a wonderful trailering experience.