just setup vB, are the default settings fine? or do i need to change any of them?
 

Are there certain things that are crucial to do?

Because I just want a functional forum for now, just the basics. I just need to make different subforums and should be good right? Or is there anything else I should do?

You should read through the settings and see if you want to change anything. Check if your image verification image works, and whatever else may not be working properly.