I'm far from an expert, but will chime in anyways.
- FP says that the water should "dance" and not immediately "stick" as it sizzles. It's hard to explain, but I hope that helps. Ideally, you want it to sizzle about the first inch or so on the chamber, which I'm sure means that there'll be some sizzling on the head pipe too. FP only mentions to check sizzling on the chamber in their instructions, they never mention head pipe at all.
- FP's instructions mention to start w/ the bottom screw 3/4 turn open, all others closed. From this, and my testing, I think you're running too "dry" if you only have one screw 1/4 turn open.
- From all the posts on here, it seems like the "magic" settings for a 701 w/ B pipe and limited chamber are to have the bottom screw open 1 turn, all others closed. This is the most common recommendation from what I've seen. It has worked well on my setup, although I haven't done hours worth of fine tuning & testing. Closing the top screw on mine added some low end hit that I wanted, although that is contrary to FP's directions.
So, all in all, open the bottom screw 3/4 to 1 full turn, close the others, and see what you've got...
EDIT: if your cylinder head has a second cooling fitting running directly overboard, make sure to put a restrictor in that line. This will help to build up and maintain pressure in the headpipe, which you need for proper tuning of that pipe. Someone else on here (mouthfulloflake I think) had this issue, and from reading those replies I realized I had the same problem. Putting in a 4mm restrictor in that overboard line made the pipe come alive, and made the tuning much easier to set.