The best rule of thumb is to observe a Papal Mass. Albeit, this is special because the Holy Father is celebrating, almost the same norms apply.
Now, my pastor is allergic to incense, but, when my PV uses it, he does so at the beginning (during the Entrance hymn–of course, the incense is part of the entrance possession), prior to the proclamation of the Gospel (during solemnities), and after the gifts have been offered. He also uses it during weddings (he incenses the couple during the time when the faithful are incensed). He also uses it for funerals.
When my PV incenses during the offertory, he either has the orgainst play a piece or he chants something in Latin, which is beautiful.
It does help if you have properly trianed altar servers. One time, at my dad’s parish, the altar server almost decked the pastor as he was incensing him.

My dad nearly had an attack, but, no damage and no black eyes.

My dad had practiced and practiced with the kids, but, you never know what’s going to happen. He did teach the servers how to incense during the major elevations of the Host and Chalice. The priest was very happy with him for that.
As far as my particular incense preference is concerned, I absolutely love, love, love the incense that the Holy Rood Guild makes because it is formulated out of the same aroma that is used for the essence of Chrism. During our first diocesan Chrism Mass, I decided to order the incense to match the Chrism essence. Oh boy, did my senses go into overdrive. The scent was incredible. I wanted to bottle it and turn it into a wearable perfume. My bishop was in stitches when he caught me sniffing the incense canister. I gave him a whiff and he liked it. Okay, so we’re weird. But, at least it did manage to take the edge out of the stress of executing our first Chrism Mass.