up
trim up max, unless you start hopping or getting air, while your in the air, you aren't moving water, and are slowing down. i find just above center or a bit higher works, but if there is chop i need to keep it a bit down to keep me in the water.
just like a boat, trim up gets more boat out of the water, until it's out of 'sync' and loses grip... on a boat it's real easy to feel if the trim is off.. with a jet there is almost no feel, other than the ski bouncing, and losing grip and thus thust...
My top (GPSd) with my ski was 67.8. average of 2 1 mile runs opposite direction = 65.5
flat water, not much wind.