Personally so that i or friends dont waste so much time every game messing with formations ive created 3 formations for every team from the edit/team menu
I have an a default fomation then also an attacking formation where I also change the team tactics and shape ie how far pushed up back line is how spread the players are how offensive the team is (although im not sure if these strategies actually work properly)
and then also altering the team structure to suit the formation I have a defensive formation and an attacking formation usually 5,41 def or 4,51 with 2 sitting midfielders ie defensive, then something like a 2 2 4 (attacking) or a 3,1,5 with wing backs slightly different for each team just to try make things more interesting
I do this for every team in the division (i usually play premiership) then when you play oiut your season the only thig you usually have to decide is the personal for the match, btw people complain about things not in the game all the time but big thumbs up to konami for there home/away moral idea think this a great idea and more importantly it works )