There is another mode, that I find particularly useful. If your camera's ISO capabilities allow a decent shutter speed for your focal length then there is a mode which (slightly) improves AF speed and can show significant improvements in tracking moving subjects. That mode is OFF.
I use Canon L IS lenses from 24 to 800mm and rarely, if ever. use IS. it is great to have in reserve and can save the day, but if the light allows you to get the shutter speed that you need then OFF has proved to be the best option on my 4 IS lenses.
I don't know if this setting will suit your personal needs but, for me, it had significant advantages - namely quite a few more "Keepers". Try it and see what you think, you can always turn it on if you are not happy!