Have you watched the Jamie Wallen video on how to set tension? This works for all machines on a frame:
http://www.youtube.com/results?searc...m+tension&sm=1
What thread are you using? What size needle? Typically a size 16 or 18 needle works best for frame quilting.
By cruise control, do you mean you have a stitch regulator? A stitch regulator works on making sure each stitch is the same length no matter how fast or slow you go, whereas I think a cruise control simply keeps the speed the same; regulation of stitch length is up to you.
The rule-of-thumb for the quilt is to be able to grab a finger that is pushed up from underneath. If you can't do that, the quilt is rolled too tightly.