As discussed by Charlie S, Artur and MPD above, the recommended settings are good but you need to watch for additional cache tables from added modules while accidental clicks can, a) lead to needless extra sized or huge mysql files that prevent full fileset/data backups (especially on shared servers); or b) totally useless backups; or c) backups that seem good on restore but are actually total disaster worse than useless because one of the many tables or missing data from a table is missing but not evident until a later time.
That being said, Drupal default Seven theme or other layout/style/css for BaM profiles page is decent and usable, BUT AWKWARD and this can lead to mis-clicks (been there 20 times) or time wasted scrolling up and down, up and down, trying to ensure there is no mis-click. The developers are kind enough to offer toggle between select box and check box but still scrolls up and down in the default theme UI may lead to issues from human error.
To improve the backup Migrate UI when adding or making a profile I use Context module based on path
admin/config/system/backup_migrate/settings/profile/edit/*to get rid of theme sidebars and CSS Injector to "exclude tables" and "exclude data" SIDE BY SIDE with css for HEIGHT as tall as possible and FLOAT right. Side by side human readability are therefore reliability of backup configurations are much easy that way.
The real point in respect to "exclusion table strategy" is that not all BaM Profiles are full backups, and aside cache table exclusion, when creating profiles for table sets for certain purposes, say nodes and fields, just field sets, locations and maps, rules and flags, filters and fonts, etc etc a BETTER INTERFACE for a GOOD SYSTEM means better protection.