mchiapetto;
I am new to diving too, at least this time around, but to kinda answer your question, you have to know what kind of dive you are planning.
If it is a shallow dive, say to 40 fsw or so, you can decided on a lower pressure than if you were doing a deeper dive, say to 100fsw or so.
The main thing is that you and your buddy agree on beforehand, during your planning stage, on what the minimum pressure is to start heading up. When the first person hits that minimum pressure, you both head up. You also have to take into account the 3 to 5 minute safety stop.
I know that I am not giving you exact answers, but each person uses a different amount of air, so what is good for one person might not be enough for the other person.
It will take a few dives to come to the correct amount for you, but personally, I would like to surface with about 500lbs minimum, just in case you or your buddy gets into an OOA situation.
I hope this helps.