Surely, different folks have different ways to do the adjusting. My method is put a piece of scrap in the vise, then to back the blade off until it is not engaging the wood. With the plane on the wood, it is slowly moved forward while the adjuster is turned to lower the blade. The plane is also moved from one side to the other during the motion since often the blade will cut more on one side than the other. Once the blade starts to shave the wood, it is checked to see if it is doing more on one side than the other. The lateral adjuster is then used as needed to straighten the cut. After a while, you will be able to take a swipe down a board's edge on one side of the blade and then the other and compare the feel of the shaving to set the lateral.
When you have the blade cutting fairly evenly, adjust the blade in and out to get used to the back lash. If you sharpened the blade with a camber, the shavings will be thiner at the edges or possibly not be produced at the edge.
If "too much" lateral adjustment is needed, check that the blade bevel is relatively square. The frog can be rotated a bit or you might have a base and frog that are not coming together in a line square to the direction of travel for the plane. This would require a bit of inspection of the parts to determine where the fettling is needed.
jim