I used Polycom 501 handsets but the settings should be applicable to most polycom phones. If you are getting quirks or issues i would double check that you are using the right SNTP server for your timezone. i had really strange issues until i changed that setting.
Hope this is useful to someone.
MANAGER SETTINGS: USER: Set Username Set login code Call Waiting on EXTENSION: Default settings
POLYCOM SETTINGS: All settings are default unless specified below. Plug into network. Check ip address. (Menu>Status>Network>TCP/IP Parameters) Open IE. Navigate to http://ipaddress Default login details are User: Polycom Password:456 GENERAL TAB SNTP Server: 0.pool.ntp.org (this is a uk sntp time server, giving GMT settings) SIP TAB Outbound proxy: IPO IP Address Port:5060 Server 1 Address: IPO IP Address Port:5060 DNS Lookup: UDP only LINES TAB: LINE1 Display Name: USERNAME Address: Extn Number Auth User ID: USERNAME Auth Password: login code Num Line Keys:2 Calls per line:1 Server1 Address: IPO IP Address Port: 5060 DNS Lookup: UDPOnly