I'm no expert, though I'd like to think I know more about LAME's switches than I did a year ago, before I started visiting this site.
--nsmsfix 2.0 = basically it controls the stereo separation. You can save a lot of bits by compressing the stereo image. Of course, if compress too much you lose transparency. So this is a quintessential trade-off switch. Gabriel advocated a value of 3.0 for his medium preset but I thought the stereo separation was too limited. I ended up with 2.0 because it seemed a good compromise between bitrate and imaging. Note that this value is not an integer...you could use 1.93 if you want.
--ns-sfb21 6 = controls the masking for scalefactor band 21. The value is measured in dB. There are better explanations on this site about the pitfalls of sfb21 than I can quickly provide. Basically, if there is too much energy in sfb21, MP3 cannot use scalefactors at all for that frame. This leads to bitrate bloat. By using --ns-sfb21 you are increasing (or decreasing if you use a negative number) the masking for this scalefactor. By using a positive number, I'm basically saying store only the stronger 16KHz+ signals. This will put less information in sfb21 than if you didn't use --ns-sfb21 and with less information the chance of disabling scalefactors for each frame is reduced. I picked 6dB because APS uses 3.75dB...I wanted something a little higher.
--athaa-sensitivity -15 = changes the sensitivity for the ATH auto-adjusting function. The value is measured in dB. Now I don't know too much about this one other than what I can discover through experimentation. It is not the same as --athlower, which moves the entire ATH curve. --athaa-sensitivity seems to control the threshold where the ATH auto-adjust function kicks in. The ABR --preset modes don't use ATH auto-adjusting at all so you could argue that it's not an absolute necessary feature. If you have a track with a lot of silence or low-level information, athaa will increase the sensitivity (bitrate) of the encoder. This is a quality feature because while our ears are not critical of soft sounds masked by louder sounds, if soft sounds are the only sounds present, our ears become more critical of them. Of course, athaa can boost the bitrate needlessly. For compressed pop music, this setting won't have too much of an effect. However, it merits closer attention if you are encoding classical material.
-X 1,3 = controls what noise measurement modes are active (for quantization). This is probably the biggest "voodoo" area and you can really mess things up here if you don't know what you are doing (not like I know what I'm doing

). If you want to learn about the X modes, download
this clip. The different X modes have a big effect on the amount of distortion during the clip's peak. With alpha7, -X is either one or two dimensional. If you give one value, you are setting the NM mode for both long and short blocks, If you give two values, you are setting NM mode for long blocks to value #1 and NM mode for short blocks to value #2. I basically went through many different iterations before settled on -X 1,3. This seemed like the best compromise between bitrate and quality. However, this is one area where things can go wrong because -X 1,3 might sound good for 80% of tracks but not so good on 20% of tracks (it basically goes for all the -X modes...there is no "ideal" setting). This is one of the biggest advantages of APS: it changes the -X parameter dynamically as needs change.
-Z = the good old noise shaping toggle. I hate this switch because it's poorly designed. LAME has 2 noise shaping modes: 1 and 2. NS 1 is generally the better sounding because it does not employ scalefactors as much as 2 (too much scalefactor use has shown to produce some artifacts). Unfortunately, -Z means "use the other noise shaping mode". If you don't use --verbose, it's not apparent what is the default noise shaping mode. People often say "use -Z" when they really mean "use noise shaping mode 1". If NS mode 1 is the default, -Z makes this NS mode 2. LAME should really ditch the -Z and include a selectable NS switch. Anyway, I used -Z because LAME VBR uses NS mode 2 by default and I wanted NS mode 1. Note that APS uses both NS modes 1 and 2 (on a dynamic basis) and adding -Z forces APS to use NS mode 1 only.
Oops, you said *brief*. Oh well!
I am opening myself here for the ominous "no, you are wrong" replies, but that's fine if they are warranted.
NOTE: This thread really should be split because it has nothing to do anymore with the original post.