On the ground, lean lean lean lean lean, in flight, unless I'm equipped with a bunch of equipment (which most airplanes are not) I lean to the manufacturers suggested mixture setting plus a little (for cooling) or to what the company tells me to.
One Company told me, "don't lean the 207 at all unless you go above 3000' and since you're never getting above 1000' don't bother," another told me, "lean to the top of the green arc." Both of the guys flying at these places had multiple 1000s of hours, in fact, "Old Man Bill," had over 17,000hrs in 207s, and Mike had over 11,000hrs in 207s. Used both techniques, didn't really notice a difference. I've talked to a fair number of mechanics who've told me, "stay low, and don't lean" in regards to IO520s. They've said it'll keep the motor running longer. In IO540s, never had any real advice one way or they other. The IO540 can take a hell of a beating from everything I heard, I always tried to be gentle with it.