Here's my full setup:
SWIPE UP: Home
SWIPE UP-DOWN: Screen off & lock (if you buy the Swipe Home app, you can Bind custom apps to gestures. In this case, I'm using this free app:
https://play.google.com/store/apps/details?id=com.katecca.screenofflock&hl=en)
SWIPE FAR UP: Camera
SWIPE LEFT-DOWN: Notification pull down.
SWIPE RIGHT-DOWN: Recent apps
(Nothing for swipe left and swipe right -- I find those gestures awkward to do).
And here's a neat little trick:
Because I'm using Nova launcher, I set the "home" button while on Nova's home screens to launch the app drawer. So essentially, I can swipe up twice really fast from any app on my phone and it'll take me directly to the app drawer. It's nifty.
This app and setup has REALLY changed the entire way I interact with my One. It really makes up for HTC's incompetent home placement decision and has really breathed new life to the device. Now I don't mind keeping this all the way into 2014 (except for the lack of updates).
I feel like I'm doing magic tricks with my One.