I like high contrast B&W. I used to use the Monochrome + Red, but for most scenes I shoot, it's too contrasty. I find the regular Monochrome is best all-around without always having to switch between different B&W profiles. +2 on Shadow and +1 on Highlights. I used to set Hightlights to +2 as well, but, again, in some scenes, highlights tend to get overblown. +1 gives me some headroom.
x: x100f (+ both converters), x-pro2, two x-t1 (sold), x-e2, x100s (sold), x-e1 (sold)
xf: 23mm WR, 35mm WR , 50-140mm WR, 23mm, 27mm (got pancaked), 56mm, 35mm, 14mm, 18-55mm (sold)
adapted lenses: contax g 28mm, contax g 90mm, two contax g 45mm (one converted to leica m mount), mc rokkor-x pg 50mm f1.4, m rokkor 40mm f2