Question Regarding 'Max Physics Delta-Time per Frame'

[OddFunction]

Firstly I realize that this topic has been explained in other places. I know there are google search results for 'Max Physics Delta-Time per Frame' that will give me information on it and that may make you think that this post is unnecessary. I acknowledge this.

With that being said, will somebody please explain like I'm an idiot what exactly 'Max Physics Delta-Time per Frame' does? Furthermore, if somebody has the following specs, and has a goal of running KSP with the smoothest, most consistent FPS possible, what would his ideal 'Max Physics Delta-Time per Frame' setting be?

i5 2500k @ 4.2ghz

Nvidia 680gtx @ stock clocks

16GB DDR3

120gb intel SSD

Thank you for your time. I appreciate all input.

[Ultimate Steve]

I don't know what it does in a technical way, but if you slide it to the right the game lags less.

[FullMetalMachinist]

I know you specifically said that you don't want to search around for this and would rather someone simply explain it to you here. Sadly, I'm not able to do that for you. 

I can, however, link you to a really good thread by @Claw, where he wrote an extremely good and easy to understand breakdown of what's going on and what that slider does.