I'm still not 100% sure what the answer is - best angle of climb?
The real life scenario I faced was a couple of years ago flying in a Warriror from Brisbane to Coffs Harbour via the Gold Coast. Mountain waves were forecast, so we avoided the ranges and we flew about 10nm east of the ranges (a 35kt westerly was blowing) at 7,500 feet. This had us in controlled airspace and well clear of terrain.
We hit the wave, attempted to climb at best angle of climb but still lost significant height - over 500 feet from memory. ATC cleared us to a lower level (still well clear of terrain though). Until you get caught in one you never appreciate how bad they could be.
And with the SE QLD westerly winds just around the corner I thought I'd ask the question. Remember, I only fly small singles, so no blue line or red line answers for me. I'm a bit slow on the uptake.