The Drake Natural 25 which comes with the board is excellent for light wind waves and onshore sailing down to maybe 5.3. It will also work ok for freeride actually, particulary when powered up. For wave riding on better waves or higher wind I would recommend a smaller Drake Natural (it's a fantastic fin) like 23 or 22.
For more "pure" freeride, check out the Drake Crossover or something similar, size wil depend on sail size.
Mast foot: start out with the mast foot in the middle of the box. This generally works well with all sail sizes. For the foot straps, in waves you naturally use a single foot strap and inboard front straps. Try the back setting for the back strap and some of the front ones for the front strap for a bigger spread. Might seem awkward at first, but most wave sailors use a wide spread nowadays. For flat water you can ether keep the inboard/single back option, but maybe move the front straps back a bit. Or you can go for a more effective double strap back and outboard straps front. Start out with the back straps in the back holes and the front ones in the middle and then adjust until it feels comfortable. If you want more control out of the board, you can try the back straps a bit forward.
Fin. For waves, start out with the middle of the fin base right under the back screw of the back strap. For freeride you might wanna move it back a bit.