My process when I got my FM9 in April:
Global requirement: use reference studio monitors or reference headphones (not FRFRs or Amps or physical Cabs).
Iteration A:
1. Start at Preset number 000.
2. Play, listen to preset and it's scenes.
3. If you like it enough to either tweak it or learn from it (Criteria: could this be a tone you will use after changes?). Save Preset to New Preset Number (equal to current preset number + 400)..
4. Go back to starting preset number (current preset number - 400.). Why? When you save a preset you stay on the newly saved preset. So going back after save (current preset number - 400) gets you back to where you started.
4. Next preset. Go to 2. (repeat until your time is exhausted or you have enough to work with for now).
After any Iteration A, Iteration B:
Global Requirement: go to a preset (greater than or equal to 400) that you want to work with. As needed during the process below, read wiki/manual to inform changes.
1. Examine preset/scene settings for blocks used and their settings.
2. Modify settings according to your perceived need for changes (through refence monitoring only!). Focus first on EQ and other aspects of tone like gain, cab block cuts and/or preamp cuts (Dry only! For now turn off modulation, verbs and delays).
3. Dial in tone until the dry signal sounds good.
4. Add sugar effects (modulation, time based effects, etc.).
5. Tweak Settings/EQ/Cuts in sugar effects until satisfied.
6. Save preset/scene changes.
7. Next Preset (above number 400). Go to 1. (Repeat until your time is exhausted or you have enough to work with for now).
Final tweaks:
For any given preset (greater than or equal to 400):
Optimize presets/scenes by changing global EQ settings as needed for use with live volumes/outputs (to stage monitors/IEMs and FOH) until satisficed with tone (note Global EQ differences between reference monitoring and live).
For Ultimate Proficiency:
Use what you learned above to craft you own presets from scratch while referring to the excellent documentation/wiki. If you get stuck seek help on the forum.
Wash, rinse, and repeat the beat.