The animation settings just speed up or slow down their respective animations. I set mine to .5 so it makes it seem a bit faster, or you can turn them off if you want everything instant. It's your preference.
Don't mess with the hardware overlays setting. Keep it unchecked. It will basically just cause more lag on your phone in some areas if you check that. I could elaborate why, but you'll just care about the result, which is lag.