Here you set various timing parameters.

STEPS / MEASURE
    How many clock steps constitute 1 measure.  Setting of this
    field impacts how the measure and step fields on the edit screen
    are calculated as well as how much timing resolution your recorded
    sequences will have. Max setting is 2048 but SEE THE MANUAL.

STEPS / MIDI-CLOCK
    When running with Midi clock external, this field specifies how many
    sequencer 'steps' will be ticked off with each Midi clock received.

    With Midi clock internal, this field specifies how many sequencer
    steps will have to elapse before sending a Midi clock event.

BEATS / MEASURE
    Should divide evenly into steps/measure. PC metronome sounds on
    each beat unless turned off.
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MIDI-CLOCK  EXT/INT/OFF
    E =  An external device (such as a drum machine) provides clocking
         via Midi clock events.

    I =  The sequencer will provide Midi clocking to external devices.

    O =  Midi clocking does not apply.


BEATS / MINUTE
    Can be 60 to 240

ECHO CHANNEL
     For echoing Midi In to Midi Out via PC's Midi Interface.
     Zero means no echo.
     1 to 16 means echo on that Midi channel.
     Greater than 16 means echo as is....don't change channels.
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MAX TRACKS
     For setting maximum number of tracks allowed.  Can be
     1 to 64.  For best performance, set to max number of tracks
     that will run concurrently then add a couple for good
     measure.