I sit pretty upright, and in cars with power seats, I usually raise the seat nearly all the way up, but the rest depends on the car.
My favorite of my current fleet is my '77 Grand Prix. It's made for someone exactly my height. Right hand on the wheel at 1200, left elbow on the window sill, and left fingers hooked over the rain gutter trim. Perfect. GM made a ton of cars set up like this for years. Well, almost perfect, because if I adjust the (manually adjusted, fore-aft only) seat to have my elbow rest on the wheel when straight-armed, as I was taught in driver's ed, my legs are just a tiny bit more extended than I'd like. The seat has the perfect height, angle, and lumbar despite all of those being non-adjustable.
Second favorite is my GMT-400. Power seats with lumbar, plenty of room in every direction and low sills. Very nice. Usually two hands on the wheel at 9 and 2 for cruising, and left hand at 10 when shifting.
On cars with tilt wheels, I prefer the wheel low, but it usually blocks the speedometer.
I find that everything made after 1990 or so has the steering wheel too far away, even cars with telescopic column,so my seating position is always a compromise between having the wheel too far away, or the pedals too close.
Something I completely don't understand is hanging the left arm out the window and down. That can't possibly be comfortable and I'm not sure I'm physically able to do that.
I've noticed as others have noted that many newer cars have the headrests thrust forward. I am cursed with the head-too-far-forward Neanderthal look, but it keeps my head off the headrest just fine.