a thorough scan which won't take forever and won't duplicate scans (like selecting local hard drives and rootkit scans and having local hard drives scan actually include a rootkit scan and thereby end up doing 2 rootkit scans being redundant and making the full scan ungodly long).
I don't think a local hard drives scan includes a rootkit scan in Enhanced User Interface - so there is no duplication here.
Also, under "TYPES", which options to select or not?
I'd go for "content" recognition.
I mean, there is no guideline given as to the difference in relative times between "thorough but slow" and "fast". And, will "fast" find most if not all infections or is "thorough" required?
Well, nobody can say how much longer the "thorough" scan is going to run, compared to "quick" scan... as it heavily depends on the hard disk content, and also the computer itself.
Personally, I don't think it's necessary to perform the most thorough scan possible (= all files & whole files) - it might certainly be rather slow.
Also, unpacking of archives may prolong the scan time significantly... so it depends on what you really want to scan.
If you're going to run the scan every night, I'd suggest to use something "faster" - i.e. content-type recognition, probably not "all files", certainly not "whole files"; regarding the packers, you might stick just to the default ones - Exec, WinExec, NTFS Streams (and in the upcoming new avast! version, also "Droppers").