The DVD player's setup features only affect the player's multichannel analog output. You can disregard the player's speaker settings in most cases. The only time you need to worry about the player's settings is if you are using the multichannel analog output (DVD-Audio or SACD discs, for example), in which case you'll need to figure out what your receiver does for bass management on the multichannel analog input. If you have an Outlaw 1070, for example, you can take care of the bass management at the receiver even for the multichannel analog input, in which case you'd probably want to leave the player's bass management and channel calibration settings disabled (all speakers "large," sub "on," speaker trim settings at 0dB, and distances at 0 feet).
The best bet is to leave the DVD players settings at their default and calibrate the display using a test disc such as AVIA or Digital Video Essentials. Since the TV will be used with other video sources, it's the one that is in greatest need of adjustment. In some cases, you may find that you want to make small adjustments to the video settings on the TV to work better with other sources, in which case you can also make some adjustments at the DVD player so DVD's still look right.