It varies by individual and strop. You strop till it's "done" for my Tony Miller linen/horsehide paddle it's closer to 80/50, but for my Craftsman hanger it's about 50/40, and for my Dovo hanger it's about 70/40.

You really can't overstrop, so don't be cautious with it. Just keep it pulled tight, and use a light touch.