Beer drinking sailor's explanation:
I've found that pulling the traveler to windward in fairly light winds generally yields a better sail shape, and of course provides more thrust with a given amount of mainsheet tension. On my boat, somewhere around 15 knots of true wind is when I position the traveler amid-ship, or thereabouts. Often, though, in San Francisco the winds are pretty brisk, and for anything above 20 knots I ease the traveler to leeward, which allows me to flatten the sail by adding more relative tension to the mainsheet. Of course, it depends upon your point of sail to some degree, but on a close reach or a beam reach, your rule of thumb seems to me to be pretty accurate.The sail-trim gurus could go on for hours about this, but for those of us who are casual, beer drinking sailors, the simpler explanations are often more useful than lengthy aerodynamic dissertations. Moreover, excessive heeling can cause one to spill one's beer, necessitating some compromises in maintaining perfect sail shape and trim.