Your POH may specify limitations for MP and RPM during take-off and/or climb - maybe because of the original design, or maybe because of an aftermarket modification. If yours does, follow it.
For the majority of us where the POH does not have such limitations: leave the levers forward. What you think is good for the engine and what actually IS good for the engine can be different things. Case in point: Most of our engines are set up such that a reduction in MP brings with it also a reduction in fuel flow. That is to avoid the famous "red box" on take-off when maximum horsepower is needed, so full throttle results in a little extra fuel being made available. Retard the throttle a little bit, and you will likely increase CHTs and internal cylinder pressures while still making a ton of power - not a good place for your engine.
John Deakin describes this much better than I could. Here is one of his best articles summarizing engine operations. Start with the takeoff and climb sections:
https://www.avweb.com/features/avwe...-perch-63where-should-i-run-my-engine-part-1/
I am fully aware that most CFIs teach it differently. I am also fully aware that most CFIs know preciously little about engines and how to operate them. Do yourselves a favor and learn about them - your aircraft, your engine and your wallet will thank you for it.
- Martin