I had a friend tell me to use this. I am just curious if these are good settings and if not why and what should I use in place of them.

Additional command line options :-8 -A tukey(0.25) -A gauss(0.1875) -b 4096 -V -T "artist=%a" -T "title=%t" -T "album=%g" -T "date=%y" -T "tracknumber=%n" -T "genre=%m" %s --sector-align

If it makes any diffrence I am using an AMD 64 X2 4800 + with 2 GB pc-6400 ram.

Used drive : HL-DT-STDVDRAM GSA-H10L Adapter: 0 ID: 0

Read mode : Secure
Utilize accurate stream : Yes
Defeat audio cache : Yes
Make use of C2 pointers : No

Read offset correction : 667
Overread into Lead-In and Lead-Out : No
Fill up missing offset samples with silence : Yes
Delete leading and trailing silent blocks : No
Null samples used in CRC calculations : Yes
Used interface : Installed external ASPI interface
Gap handling : Appended to previous track

Strictly speaking, there are some switches that are redundant or of little value in the command line, but there's nothing wrong with it other than that.

Most people use something like this:

The drive settings and EAC options are ok, but you should find out if your drive caches or not. If it doesn't you can safely uncheck the option for "Drive caches audio data", which will result in faster ripping. Read the EAC Drive Options guide in the wiki for more information on that.