Early days yet, but after about 400 street-only miles the modes on my base are set up like this:
Rain mode -std. Ran it just long enough to see what it felt like, laughed at the TC light flashing at me in a very mild 4th gear sweeper at around 2/3 throttle, 5000 rpm on dry pavement. Maybe if I get caught in a monsoon. Next...
Race Mode - everything turned off to start with, to give as much of a pure baseline feel to the bike as I can get so I understand what the thing is like fundamentally before the electronics start doing their thing. 195HI, EBC off, DTC off, DQS off. Me like! Still upshifts great without the clutch and has a lot less engine braking than my RC51, which was kind of a suprise. Got the display in street style for race mode, no need for laptimes at the moment. EBC and DTC will be very useful in modifying limit behavior on track, but you don't really need them on the road as much.
Sport mode - probably mucked around with this one the most to date.
ENG in 195HI for linear throttle response; 195LO just felt like a long-turn throttle barrel to me.
DTC on 3; I spent a fair bit of time on a favorite twisty stretch of road trying different settings and anything higher seemed too intrusive, at least in the dry. The bike hooks up very well off corners and is pretty easy to ride with the TC off anyway. I had an '08 Fireblade before, and you could fire that thing out of corners a good bit harder than I've tried on the Pani so far, with no TC at all. Super easy to light the indicator up on level 3 with zero drama whatsoever. (By that I mean to say accelerating off an apex in a way that would cause no drama with no TC will still get the light flashing on the Pani) Great to have all the levels though for various conditions; choice is good.
EBC, waffling between off and 1. I don't like to use the rear brake, so engine braking is useful. Not really going in hard enough on the street to need to dial it back generally, but 1 is OK; EBC is really more of a track benefit. Either way, you'll definitely work the front more on entry the higher you set it.