After installing windows, I grab all the latest device drivers from the manufacturers. Once that's done I do a Microsoft Update loop until all needed updates are downloaded and installed. Then I install big apps, like Visual Studio and Office, and make sure those are updated. Then I go about installing the rest of software, usually as I need it.
I got in the habit of reinstalling my machine every 6 months or so in the Windows 95 days, so I tend to leave settings at their defaults.