I just installed RC and set up an account. In my main.inc.php file, I have these settings:
// enable composing html formatted messages (experimental)
$rcmail_config['enable_htmleditor'] = TRUE;
// save compose message every 300 seconds (5min)
$rcmail_config['draft_autosave'] = 60;
But I just had a look at my user preferences (that I never edited), and the settings are different:
Compose HTML messages: No
Automatically save draft: Never