Hi, the machine plays left to right, so the takeup reel goes on the right side. Cue should be down, or away from the heads - this switch will allow you to hear the tape as you ff or rewind, helping to find the point you're looking for. It can seriously accelerate head wear so you should just use it when you need it, and don't snap it all the way into place. Just hold it with your finger just enough to hear the tape rather than locking it on.
by the way, what kind of machine is it? did you just acquire it?
best of luck,
andrew