Interesting question. dBpoweramp ripping software, which many B2 owners use, recommends FLAC level 5; which is widely seen as the default option.
It's worth restating, in case any readers are concerned, that any FLAC file will play back without compromising audio quality. As Peter suggests, the choice between the levels is about how long the compression process takes and the size of the resulting stored file.
The higher FLAC levels take much longer for very slight further reductions in file size. FLAC level 8 will take about three times as long as level 5 to compress a track, but the extra saving on storage space is tiny. The higher levels also need more processing power on playback, so there would, for example, be greater battery use on a mobile device. I don't know if that' would be an issue for the B2, but others here are more qualified to comment.