We use iPhone Config to apply our Wi-Fi and Mail accounts and manage one or two restrictions (hide youtube, etc). We tried using the iPhone Config for creating most restrictions, but found it more consistent to set the restrictions on the device itself (Settings/General/Restrictions) and include them in the "master" image.
After we apply an image to the iOS device, we open the iPhoneConfig app and install the config on the devices. The config app has a similar look and feel to the iTunes interface. Once the Install button is clicked in the app, click the corresponding Install button on the device and viola!