Sorry Larry, you're both wrong. Even though it's a silly argument - because lift is performed by the lower arms anyway - you can get the top of the implement A-frame farther from the ground one when the tractor end of the adjustible toplink is in the top hole and the implement end is in the bottom hole. The angle of the implement itself is arbitrary, because the length of the toplink is variable.
Think about it. Your way - tractor bottom and implement top - can still be improved upon by at least another inch. You gain an inch from the ground going from the tractor bottom hole to the tractor top hole. On the implement end you can lift the A-frame an inch higher by using the lower hole instead of the upper.
But this is arguing just for the sake of arguing. Back to the original poster's question, achieving max height in the carry position is less important than getting the toplink as close to parallel (with the lower lift arms) as you can when the implement is in the working position. Don't go for height - go for parallel (or horizontal as I wrote above).
//greg//