I usually run 30 to 40 psi on the oxygen and around 10 psi on the acetylene. Does it really matter what the acetylene is set at since you really regulate it by the torch valve as opposed to the oxygen that is wide open when you depress the cutting lever?
Yes, it matters. If you look at the chart A_P posted, with the proper tip and hose size, you can cut
12 inches of steel at 10 PSI. The chart also states to not run acetylene over 15 PSI AND if you need additional volume to use a manifold and run multiple bottles. This is because acetylene cannot exist by it's self in nature. It has to have a binding agent which is a solid. If you turn to PSI up too high and draw too much volume, the binding agent will be drawn into the regulator possibly causing an explosion.
So, if you set the regulator properly, then you don't have to worry about when the knob on the torch gets bumped.
I don't remember what size the tips are at work, but I set the regs at 4 PSI for acetylene and 30ish PSI on the oxy. Again, this all depends on the hoses and tips and the work you're cutting but I can saw through a 1" plate if the tip is clean.
It's all about safety and using the least amount of gas possible.
My dad use to start a cut and then turn off the acetylene and finish the cut with oxygen only.