The set up process can be done in around 5-10 minutes and once completed is left for the day unless wind conditions change significantly.
Here is what I do:
Put the boat on the stand
Add the mast
Add the jib and attach backstay making sure the crane and fitting lies fore and aft
Connect the shrouds and tighten bottle screws to their marks. (5-10 knot setting)
Connect the sheets fixing the hooks to their marked holes
Switch on the Radio control
Put the boat on its side and check the mast is straight sideways and adjust shrouds if not. Add the burgee if light weather.
Put boat back upright and check fore and aft rake with rig stick.
Take the boat to edge of pond and adjust the kicker for a run
Sheet in for upwind sailing and adjust the backstay to get the right mainsail twist with top batten parallel to the centreline. Check the jib boom is pointing just inside, at, or just outside the shroud depending on the wind strength or at its measured distance from the centre of the mast.
Adjust topping lift until the jib twist is at its right measurement from the topping lift wire at deepest point
Check the rudder is straight and all RC working normally
Put the boat on the water and sail upwind to check it is perfectly balance and needs no rudder interaction. If there is any weather or lee helm, adjust setup starting with leach tension.
If the wind goes above 10 knots or below 5 knots adjust setup accordingly
Once I am happy I will look for wind shifts, bends, local effects on the course and follow the process on the website (see Racing an IOM/On the day).
That is all there is to it. Hope this helps and see you on the water