I'm usually zoomed in fairly close, almost to the point of view of someone walking closely behind them, I would call it. But in dungeons, it's usually zoomed all the way out, at least for Primals and CT and other dungeons that let me zoom very far out without hitting walls.

In smaller or more cramped dungeons, like Tam-tara or Stone Vigil, etc, I usually keep it at about the halfway zoom point. Lets me see more of the field, but doesn't pull me out so far that I run into spots where a wall gets in my way or whatever.