Hitting/pitching split refers to the amount of money you want to spend on hitters and pitchers. If you select 90/10, hitters will be super-valued and pitchers will be almost worthless. The generic answer is 65/35 or an equivalent ratio. So if you're in a straight draft league, select that one.
If you notice that your league spends more money on hitting than 65%, sometimes it's valuable for you to value pitchers more. That way you'll get better pitching bargains.
Another Year, Another Championship. I'm 2 for 2.