My Revelation forks are Solo Air but below is some correspondence I've had with SRAM - the first part deals specifically with the non Solo Air type.
For the air spring set up please refer to the link below. Scroll through to the bottom where you will find a guide for the Dual Position Air system.
As for the damping settings, I always say start in the middle for the rebound. This way you can make it faster or slower depending on what sort of terrain you riding and how you prefer the fork to respond. Turning the rebound adjuster (red one at the bottom) clockwise will make it slower to return, anti-clockwise will make it faster.
The compression damper on your fork is adjustable in 2 ways. The blue knob can be set in 3 positions: fully open (mainly for fast descents, technical and bumpy stuff), threshold (mid-compression) and locked (max. efficiency, long climbs).
There is also a adjustment of low speed compression that will affect how your fork responds to small (rolling) objects (slow movement of the fork). High speed it factory pre-set.
The fork you own has a solo air spring which means you would only pump it up through the valve at the top of L/H stanchion. The bolt on the other side of the lower leg should not be unscrewed as this keeps the air shaft fastened to the lower leg.
The low speed adjustment is done by the silver adjuster on top of the blue lockout knob.
I've gone with setting my forks up with everything pretty much in the middle and will go from there to see what works best.