Well, in my case, my learning experience was expensive. You carefully track a/f ratios, timing, boost, a lot of simulator work, and blow up a few engines to test your fueling limit theories. After all that, you have a pretty good idea of where your limits are. The latest engine has lasted well.
Plug reading is very important, but most of you probably don't install fresh plugs to get good readings like you should. Trying to read old plugs is useless,... unless you're just looking for melted electrodes.
edit: For instance, I've learned that if I burn the plating off of one thread on the spark plug, my combustion temps are safe. If I burn 1.5 threads, I'm still safe. If I burn 2 I start looking to change the fuel map. If I burn 3 threads, I'm either lucky I made it through the run, or I hurt something and I'm just confirming that the combustion temps were too high. :frown:
Light plated plugs such as NGK and Champion work real well for that type of plug reading. I also use a plug with a very short ground strap. A hot groud strap will set off the methanol.