Hello,
Are you referring to the current through the LED itself?
If yes – the answer is it depends on what power setting you have it set to. The power setting of “1” is ~700mA (i.e. quite a lot of power!). Lower power settings should be in a linear relationship to this (e.g. 0.1 setting means 70mA). That said, it is worth noting that the same current through different LEDs will give different luminous fluxes. The LED is a “LZ7” from LedEngin. If you want more detail the datasheet they provide is the best source.

Yes, the laser is generally set to a constant power output – there is an optical feedback loop regulating this (there is a photodiode inside the laser diode which is used to ensure the same optical output power e.g. regardless of temperature fluctuations).
There isn’t really an optimal level to set it at – generally you want it fairly bright so you use the dynamic range of the sensor, but in fact the sensor can have its gain increased (usually it is only set to 1x for the laser but can go up to 512x) if you wish to runt he laser at lower power.