If you are pumping E10 water should never be an issue since the water will dissolve in the fuel.
I like the lowest auto shutoff position. Most of my fills are less than 10 gallons and if the guy with the 30 gallon tank in a SUV can't wait, then I guess he can go to another pump or another station.
I also fill up 5 gallon jugs (full pump speed) for a total fill of 20-25 gallons, use the extra jugs for the bikes and fill each to exactly 5 gallons for mileage calculations. Last time it was $77, and most times that last me more than a month.
Do not overfill or you can get liquid fuel in your charcoal cannister and spend big bucks for a replacement.
I used to use a chock on the left rear wheel on my VX to get the additional 1.5 inches of elevation for consistent fills. In the wifes Murano you could slowly add 3 gallons after the pump auto shut off because the filler neck was about 6 feet long.
Here is what the Honda manual has to say about filling past auto-stop:
"Stop filling the tank after the fuel nozzle automatically clicks off. Do not try to ‘‘top off’’ the tank. This leaves some room in the fuel tank for the fuel to expand with temperature changes"
Makes a little sense, I guess.
I think Tom and Ray said some tanks are equipped with fuel-vapor recovery systems that will fail if the tank if the fill tube is over filled.
I avoid using slow fill speed because I've experienced auto-stop failures when filling slowly. At best, a little puddle of gas on the ground ...
I actually saw a gas tank on an MRAP explode (not a big fireball like the movies lol, its just bursted open and sprayed fuel everywhere) in Iraq when there was a large change in temperature and an overfilled tank ;P
Like at the urinal, don't forget the shake. I don't think those few drops are much. But I'd rather they be in my tank than on the side of my car, hands or evaporate into the atmosphere.