I agree whiteman, I never use more than 2 notches of flaps even in a full heavy -1D with 100% gas.
my process...
Hold brakes till full WEP spinup...
Wait till I pass the front turret..
tap 2 notches flaps
retract gear immediately off the end of the deck
plane usually falls 10-20 feet but i never tap the water.
The benefit is that since your carrying more speed than with the full flaps, the plane is more stable. This method works even on fully turning carriers in either direction.
NOTE: If the cruiser is cutting in front of the carrier, you can deploy full flaps 3-4 seconds AFTER you have left the deck and raised gear, your higher speed will allow the flaps to boost you gently over the cruiser. Dont pull back on the stick, just extend flaps and youll rise up rapidly. Sometimes i even have to push forwards to keep from buffeting.