LIPO setting on 7.4V for 2 cell packs, capaticity on 3200 for a 3200, 4900 for 4900, ...
Then charge current keep going up till it stops, it normally doesnt want to go over 1C (if yours does DONT), 4900mah= 4.9amps, 3200mah=3.2amps, ...
I always use my Trakpower balancer between the charger and the pack, its needed.
discharge, if you do that set the voltage cut-off to 3.0V per cell or HIGHER.
You can discharge LIPO with the Overloader at 2C, 4900mah= 9.8amps, 3200mah= 6.4amps, ...
Be sure to monitor while charging/discharging and double check settings.
Now LIPO users may wonder why discharge lipo, i do that once in a while as i think that balancing in 2 directions may be better still, ie. discharge/charge.
A racecar is only as good as the mechanic who build it.