It depends on the specific grind of your knife, and whether or not you want to reprofile it. If the knife came ground at less than 30 degrees, you can use the 30 degree setting to touch it up. If it came ground between 30 and 40 degrees, you can use 40 degrees. Normally Spydies are ground at 30 degrees so that is why 40 is the recommended angle to sharpen.
If you want a really wicked edge, reprofile the thing to something less than 15 per side (if you search the forums you can find out what kind of an angle S30V can take), and then sharpen at something slightly above that.
But really, 40 degrees (20 per side) will give you an edge that can shave arm hair, push cut paper, and perform every type of EDC cutting chore.