lately for cruisers i have been leaning towards beams. weapon type i don't think it makes that much difference, but i would recommend phaser currently. i am not real big on projectile weapons, beams can work well on aft and so do turrets. turrets use very little if any power.
neutronium, neutronium, neutronium. the more the better imho.
shield emitters or shield regen or both.
tactical - what you need to support your weapon type.
Note that you should go to a safe place to set your power settings. Put JUST ENOUGH power into Weapons and Shields for Emergency Power to Weapons/Shields to put you at 125. Then dump the power into Aux or Engines depending on what you're doing. Aux for healing, engines for moving.
I prefer having Monotanium Armor for +35 Kinetic Resistance. I also think having both 18-20% Shield Cap and 13-15% Regeneration make a better combination than stacking two of the same. Besides EPtS 3 will give you better resistances (except for a brief period between firing of the powers) making up for some of the downtime; which maybe is 2 seconds. If you are Engineer, Nadion Inversion 3 should be used to counter the effects of either FAW or BO. The added EPtW 1 will keep your power levels higher, but not increase the recharge rate of that system. If you use BO without NI 3 (Eng) then wait a second before firing the other seven beams.
Alternatively, if power drains are too much, drop to Quantum torpedoes (or Tricobalt Aft) and use 6 beams, don't change the tact consoles, as your primary DPS would be beams. In STFs either drop TSS 2 for Tractor Beam or use Tractor Beam Mines aft for holds. It is IMPERITIVE in STFs to have a hold.