There are 4 levels of preferences, and each level overrides all levels below it:

1. Studio Preferences
2. User Preferences
3. Studio Defaults
4. Factory Defaults

Preferences loading order (last one loaded wins)

1. The Factory Defaults are built into the QubeGUI/QubeWranglerView(6.4+). 
2. The Studio Defaults will be loaded first and will override the Factory Defaults. 
3. The User Preferences are loaded next and will override the Studio Defaults and Factory Defaults. 
4. Finally, the Studio Preferences are loaded, and override the User Preferences, the Studio Defaults, and the Factory Defaults.