In a band situation
Usually try to set the speed to modulate somewhat in time to the music.
And either use a slow half time speed, or if you wanna go fast a full time speed
or if just practicing at home, i start with a slowish speed and then jam to the Speed of the effect
like any modulated effect, it tends to make more sense or have a cool sound if your playing is somewhat in time
with the effect. Then when you play notes you hear the filtering effect kinda roll or morph in time with the music.
The effect is called a phaser, so most just assume its making the signal roll out of phase and that is what your hearing.
Well sorta.
Its actually a modulated filter or notch filter. If you imagined just a multiband EQ and you completely cut one of the bands
that is basically similar to the filter a phaser makes.
above is the mxr phase 90 and you can see it actually has 2 notch filters which is common for a 4 stage phaser. You get one notch filter for every 2 stages of all pass filters which makes a 90 degree phase shift.
But as you know the phaser is a modulated effect controlled by the speed.
As I mentioned earlier if you fully cut a band on multiband EQ its similar sound to the phaser notch filter.
But it will modulate this cut frequency back and forth across the spectrum.
Some pedals will have a width or depth knob which controls how far up and down in frequency the notch sweeps.
and the speed controls how fast it does this.
anyhoo all i got to add
its just a modulated filter and works good with alot of harmonics as well since its a filter.
so phaser after or before distortion can have a interesting effect.
and just have fun practicing and playing in time to different speeds