The "Page Settings" button lets you save a pages setup so it's the same each time you view the page.
It saves filter options, my/all options, sort type, grouping, fields and more.
So for example, if you like to have your task list grouped and sorted by date then you can set those options and then save the page settings. Then every time you come to your task list it will display grouped and sorted by date.
When you click to save your page settings you have 2 options:
People - This determines whether the page settings will be saved for just you or for all users. This is a great way to set up a page just the way you like it or set up the page so that all users see it in the same way.
Project - This determines whether you're saving the settings for just the current project or for all projects. This can be great if you want to create a saved view for just a single project.
When you have saved page settings they will have the following priority order:
Just me - This project only
Just me - All projects
All users - This project only
All users - All projects
You can also switch between the views by clicking the relevant item in the saved views menu.
To delete a saved view click the X next to the view name.
And then to go back to the default page settings simply click that option in the menu.
Note: Each view has it's own page settings, so you can't save Kanban as your preferred view type using page settings. To set your preferred view type go to the welcome dashboard and then click Options > Your Settings and you'll be able to set your default page views.
Also Note: Saved views is great for setting up pages with the settings you want every time you view them. If you want to set up pages for occasional use then Starred Pages might be better. When you save a page as starred it saves all the settings just like Page Settings does but it saves your page as a starred page instead of having the page open with those settings each time you visit the page.