I recently got a Merlin, and have looked around on the web for settings, as there isn't an official one in the cookbook. I was mostly going off the GH1 settings people have posted, as I'm assuming they're of equal weight. In any event, it seems most people use a start, mid, and finish weight on the bottom, but it makes it very bottom heavy. Even the mid and finish is heavy. Right now I'm using the start and finish weight. I almost have it balanced, but it still needs some tweaking. Anyone care to share your settings?

I've contacted Steadicam people directly and they've gottem me a lot closer than I could get by myself on my JR.
Also, here's user submitted settings from their site:
Welcome to Tiffen - Steadicam Merlin Cookbook Settings (http://www.merlincookbook.com/user.php)

I've used that recipe, and it was terrible. I wish they had an official one.

This is what I use and it has worked well for me.
tripod bracket on "L"
Stage position at 0
Middle Weight= Finish
Bottom weight' Start+one middle+finish weight
Boom length=11"
Z=1 or 2

Another setting I use, is a bit more advanced, but has compelling results. The settings are as follows.
tripod bracket on "L"
Stage position at 0
Middle Weight= Finish
Bottom weight' Start+one middle+finish weight
Boom length=9 3/8""
Z=1

This setting takes a bit of skill, but is very solid.

By the way I am using the 14-140 lens with the stock hood. No camera strap, and the LCD is unfolded to the left of the camera, and tilted slightly up.

I know those are not official terms, but I'm typing this on my phone and didn't have time to look them up. You should get the idea. If not, I'll clarify later.
Good luck

I can't for the life of me figure out how anyone is getting it to balance with more than the start and finish weight. I've tried the start/middle/finish and middle/finish, and they're both too heavy. With that much bottom weight the Merlin keeps flopping around. I feel like I'm never going to get this thing balanced. I'm pretty much just doing trial and error as there are a bunch of recipes for the GH2 and none of them work for me.

When you are perfectly still does your Merlin still move around a bit? I can't get it to stop teetering.