I have the Cakewalk MA-15D Monitor Speakers and was wondering if this site is a good way to help me set up my monitor speakers.

http://www.m-audio.com/news/en_us-2030.html


Also which is better? coaxial or optical S/PDIF input ports?

There is no audible difference between coax and optical S/PDIF. Use whichever one you have and/or is most convenient. Optical connections do allow longer cable runs, but that's probably not an issue for monitors.

Thanks Bit. I'll give optical a shot since I read a lot of good things about it.

Though is the site in my last post a reliable way of doing a basic set up for my monitor speakers?

Yes, that M-Audio page shows the most common configuration. All of the recommendations given there are excellent general guidelines. 

Bear in mind that while the equilateral triangle is the most desirable and widely-used setup, the actual distances vary. Larger speakers are typically set a little further away, smaller speakers a little closer. Given the size of your speakers, you may find that a distance of 2' or 2.5' works better than the usual 3'-4'. You'll have to experiment.

The most important thing you can do is avoid placing the speakers right up against a wall.

Thanks again Bit.

Though as far as the distance measurement goes, What am I looking for when testing out the distances?

I started to write out a detailed technical description for testing speaker placement using test tones, microphones and SPL meters - and then thought better of it. We can always revisit the subject later. For today, let's keep it simple: just place your speakers such that they are the same distance apart as they are to your ears, and about the same distance away from you as your computer's display screen. Put a piece of carpet underneath them and you're good to go. 

(Note to other readers: before you suggest sand-filled speaker stands and MoPads and side absorbers, consider the OP's speakers' size and power capabilities.)

Alright, thanks Bit. I'll do the basic set up for now and report back if I have any problems.