Everyone's physiology is different; what works for LA probably won't work for me. There's not a formula to follow, but there are lots of places out there to find a good starting point. You can also put in all of your measurements to some online resources and they'll spit back a starting point. They'll claim that it's where to set what, but it's really just a place to start your bike fit. Trial and error, or a professional fit, is the way to go.

Shokhead, I'd say that saddle height adjustment, while not hard, is worth making a big deal out of.