I'm not an expert on this, hope someone will chime in, but I think "the right place" or where it should be is anywhere that with the lever pulled all the way in the clutch is disengaged (clutch plate not contacting gear), and when the lever is let go of, the clutch allows the bike to be in gear 100% ... the sweet spot (where you start feeling the bike pull as you let out the clutch lever) through the travel (distance of friction zone), I believe, is a matter of preference. Sometimes lubing can take so much "tension" off a dry cable that the friction zone sweet spot seems to have moved. I don't think the friction zone changes too much on a bike as far as travel goes - the lever to clutch plate connection is probably gonna stay the same.
Example: if I look at my clutch lever as the left side of an analog clock, the minute hand on seven would be clutch lever pulled in all the way (clutch disengaged), the minute hand on eleven would be clutch lever let out all the way (clutch engaged, bike fully in gear). On my bike, the friction zone, or amount of travel I have in the lever is about "10 minutes" long, from about 18 minutes till to 8 minutes till the hour, or as quick as "two minutes" worth of movement from the eleven on pulling in the lever.
Most bikes have notoriously large grips, long clutch levers, and worse for me, very long lever distance/friction zone start distance from grip. Rolling the lever adjustment can pull in the friction zone, on mine - taking the first touch from 8 minutes till the hour to 11 minutes till the hour (clutch resting position [engaged] starts closer to the grip now. I found a clutch adjustment kit (for about $20) that has a spring and a little chrome tube that gave me a little easier lever (not as hard to pull) and brought the sweet spot back another "seven minutes".
Sorry for the clock hand analogy. (Seriously need a graphic.

) Hope it helps a little till someone else chimes in.