Here's the back of mine.
I followed your advice and went one bulb for the small and 2 for the large. Not as many inserts on this so a lot got 2 lights. I started at the bottom middle with the control box so the plug would hang down and then worked my way up and counterclockwise so I could leave the end female plug also at the bottom (to the left of the box). Not that I expect to use that but that'll be the best place in case I do.
I probably had about 15 or more extra lights so I snaked it back to the middle to give each of the 10 rollovers in that triangle formation a 3rd light. I planned mine out from the start and knew I'd have a lot extra but unfortunately didn't think of using them for the rollovers until the end.
This can be a one person job but you'll probably want help after taping up the holes on the back. I had my wife slowly pass a flashlight over it while I watched for light coming through and then taped them up. The other option is to tape every single hole, but about half don't go through (and the ones you don't think go through probably do).
One thing nice thing about these lights is that there's a good distance between each bulb and the stems themselves are long so with the right planning you can avoid wasted bulbs as you stretch to reach the next insert. It doesn't matter which way the bulb enters the insert so position it based on your next insert.
Here I have it pointing left so I can then hit the next insert by pointing right
Also, don't spend a lot on the paper. I only used one sheet so I could have bought even cheaper stuff and doubled it up.
Use good scissors because Gorilla tape is hard to cut and you want a lot of it. I tried to get by with smaller pieces than in MustangPaul's pics and may need to go back over it to block out the light bleeding through.
Most of the choices are on the light show box work pretty well (except the one where it alternates groups of 3 since they don't line up in groups on the PF) the super fast flashing. Right now I have it on a setting that seems to cycle through all the modes.