You want it tight enough so anything more than a nudge gives you a warning, a hard hit should do 1-2 warnings, and a really hard hit should blow through all the warnings and timeouts and tilt. There's no set formula for this close, this far. It also depends on the materials on the tilt mech, and how clean/tarnished they are. I polish all mine and set the tilts reasonably tight; there's really nothing that will make you a better player than being able to nudge with tight tilts.
I thought I had all mine adjusted correctly for a tournament in 2008; I was like, hey, they tilt! The players that came over had a field day kicking everyone's ass at the games and none of those players tilted.
On the flip side, the first tournament I attended at pinball expo in the 2000s, the tilts were way too tight IMO, even with hindsight on tournament setups since then, they still were too tight. Hitting the launch button a bit hard or the flippers a bit hard shouldn't produce a warning let alone a tilt. The popeye in that tournament was set so tight that anything blew through the 3 warnings and tilted. The match was decided on how well you could plunge the skill shot.
Play with the bob setting, it's easy to adjust. The hard to adjust part is the playing end, but you will get better at it with practice.