I am still a nitro noob, but I'll try to toss some things out that stuck out to me as good general tips...
1. Lean towards rich - If you're bashing (not racing) and you don't need every bit of power you can muster, it's better to run a little too rich (higher fuel/air) instead of a little too lean (lower fuel/air). You get less power running rich but you'll be less likely to damage your engine.
2. Blue smoke = good - Your exhaust should give out a trail of blue smoke at WOT (Wide Open Throttle). If you don't have smoke, richen it up.
3. Keep your air filter clean - If you let dirt and debris get into your engine, at 30k RPM, even small dirt particles can cause damage.
4. ARO (After Run Oil) is your friend - After you run your truck, especially if you will be storing it un-run for any extended period of time, use ARO. Make sure you clean around the opening (either carb or glow plug hole) before you go to use your ARO. You don't want to open it up to take care of the engine and then let in that harmful debris!
5. Store your engine at BDC (Bottom Dead Center) - When you are finished running your truck, make sure the piston on your engine is at BDC, which basically means that the piston is at the BOTTOM of its stroke - leaving it at the top (where the sleeve pinches it) can cause problems due to thermal stresses, etc.
6. Use a Fuel Filter - Again, any bit of debris in your engine is bad, and through the fuel is another way that dirt and such can get into your engine. A fuel filter is a cheap way to help keep that engine clean.
Of course, I am sure there are a million more, and if any of these seem incorrect, I am sure someone with more experience can correct me, I just thought I'd toss a few out there.
As for Full Throttle all the time - I can't say, I've never been someplace where it was an option.