I look for a happy medium between the extremes of fluffy stiff peaks and dripping wet because neither does a particularly good job of lubrication. I shoot for a moist, creamy lather that will hold a soft peak (if it doesn't, it's too wet) and rinses off the blade easily (if it doesn't, it's too dry). A bubblier lather needs more lathering until the bubbles are minutely fine.
YMMV depending on the cake/cream/stick that you use.
Brett
Peters Creek, Alaska
Man is a tool-using animal. Nowhere do you find him without tools; without tools he is nothing, with tools he is all. — Thomas Carlyle (1795-1881)