Now for many higher performance cars, I tend to go stiffer. And F1 I treat more like a go-Kart than a car, so I go even stiffer yet. But the basic philosophy is the same.
Start at default. Set your LSD to something reasonable as he suggests, less for higher performance cars. For rear wheel drive cars, 10-24-6 is a good place to start. Keep adjusting LSD until you get reasonable rotation and can get down to the apex without too much trouble, as well as accelerate full throttle (most high end cars need to squeeze, not hammer the pedal) out of corners without spinning one or the other tyre.
Now decide how you want to control your weight transfer from side-to side. Do you want body roll or not? How much do you like? Adjust your Roll Bars accordingly. Typically, for Rear Wheel Drive, you want the rear to roll (twist) more than the front.
These two adjustments account for the majority of how the car will handle. Get this wrong and nothing you do with springs will ever fix it.
Now go for Springs, first fine tune the roll. less roll = stiffer springs, watch how this affects your dive/squat in and out of breaking/acceleration. Then fine tune your ratio front/back to get the oversteer/understeer for your style, adjusted for the track. (Some tracks require more or less oversteer.)
Now go for Dampers. This depends on the bumpiness of the road. Since at Daytona, the Busstop entrance tends to de-stabilize the car, you want to soften the dampers to absorb the initial shock of hitting the rumblestrip. otherwise you are unbalanced when trying to steer into the tiny straight. Extension will affect how fast you want the springs to return to rest, how fast you want the weight transfer to happen. Too soft and you start affecting oversteer/understeer balance in/out of corners, too stiff and you are relying on your springs to absorb bumps which destabilizes and bounces your car around.
Toe will affect turn-in (Front) and stability (Rear).
Last, go for Camber. This is the least effect on lap times, but will affect how well you take the mid-corner and exit.
Once all that is done, adjust your transmission to suit the track. Top end is not the only thing. Make sure you have enough torque and power to accelerate out of the apex to the next breaking zone as fast as possible. Also make sure you have the right amount of torque in mid-corner, this helps bite the track and get you around faster. Pioritize by the fastest corner to the longest straight, then the corners leading to the longest straight. this is where you will loose the most time. Less time you spend in the corner, better your lap times. Faster you reach the next breaking zone, better your lap times.
Again, F1 is a different animal, but adjusting in the order above will improve your chances of getting it right sooner than later.