Tips From Fender On Setting Up Your Guitar

Here are a few tips from Fender on setting up your Fender guitar....
ACTION...
Players with a light touch can get away with lower action; others need higher action to avoid rattles.
First, check tuning. Using a 6" (150 mm) ruler, measure the distance between bottom of strings and top of the 17th fret. Adjust bridge saddles to the height according to the chart, then re-tune. Experiment with the height until the desired sound and feel is achieved.
Note: For locking tremolo systems, the individual string height is preset. Use the two pivot adjustment screws to achieve the desired overall string height.

Neck Radius String Height
Bass Side Treble Side
7.25"
9.5" to 12"
15" to 17" 5/64" (2 mm)
4/64" (1.6 mm)
4/64" (1.6 mm) 4/64" (1.6 mm)
4/64" (1.6 mm)
3/64" (1.2 mm)
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PICKUPS
Set too high, pickups can cause myriad inexplicable phenomena. Depress all the strings at the last fret. Using a 6" (150 mm) ruler, measure the distance from the bottom of the first and sixth strings to the top of the pole piece. A good rule of thumb is that the distance should be greatest at the sixth-string neck pickup position, and closest at the first-string bridge pickup position. Follow the measurement guidelines in the chart below as starting points. The distance will vary according to the amount of magnetic pull from the pickup.

Bass Side Treble Side
Texas Specials 8/64" (3.6 mm) 6/64" (2.4 mm)
Vintage style 6/64" (2.4 mm) 5/64" (2 mm)
Noiseless™ Series 8/64" (3.6 mm) 6/64" (2.4 mm)
Standard Single-Coil 5/64" (2 mm) 4/64" (1.6 mm)
Humbuckers 4/64" (1.6 mm) 4/64" (1.6 mm)
Lace Sensors As close as desired (allowing for string vibration)
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ADDITIONAL HINTS
There are a few other things that you can do to optimize your tuning stability that have more to do with playing and tuning habits.
Each time you play your guitar, before you do your final tuning, play for a few minutes to allow the strings to warm up. Metal expands when warm and contracts when cool. After you've played a few riffs and done a few dive-bombs, you can then do your final tuning. Remember—with most tuning keys, it's preferable to tune up to pitch. However, with locking tuners, go past the note and tune down to pitch. Finally, wipe the strings, neck and bridge with a lint-free cloth after playing. When transporting or storing your guitar, even for short periods, avoid leaving it anyplace you wouldn't feel comfortable yourself.
and more from Fender... http://www.fender.com/support/stratocaster.php