Basically you want to keep things in a "reasonable" range depending on what you're photographing.
ISO should be as low as possible while keeping everything else reasonable. I really don't hesitate to bump to 400 if needed; 800 if it's dim, 1600 in dark. I usually keep my cameras on 200 or 400 when I put them away -- these are pretty all-purpose ISO's if I have to pull the camera out quickly and start shooting.
Shutter speed really depends on what you're shooting, but for most subjects at normal focal lengths (say, 24mm to 100mm equivalent, with an Image Stabilizing lens) you will be fine keeping it in the 1/100 to 1/200 range. Maybe even as slow as 1/50, as long as your subject isn't really moving. If it is bright enough that I am getting up to the 1/400-1/500 range for normal shots, I will drop the ISO a stop and come back down to 1/200. So 1/200 is effectively my everyday upper limit on shutter speed. If shooting sports, kids running around, or something else when I want to freeze motion then 1/500 or 1/1000 is warranted. If I am shooting something where I want some motion blur then down to 1/10 or so. If I have a tripod then even slower. If you are shooting an absolutely static subject (landscape, still life, etc.) then there is no reason not to use as long a shutter speed as you want, as long as you've got a sturdy tripod, use mirror lock-up and a remote shutter release or auto-timer. (At intermediate shutter speeds (say from 1/5 to 1 second), the motion of pressing the shutter button can be enough to induce blur, as well as the shake from the mirror moving in the camera. Mirror lock-up and remote shutter releases compensate for these problems.)
Aperture just depends. It is a good thing to test out your lenses and see if you're comfortable using them at their maximum apertures. I am with all of my lenses except the 17-40 f/4L -- I really try not to use it at f/4. All lenses will look better (sharper, contrastier) when stepped down from their maximum. Most lenses look their best in the f/5.6 to f/8 range. (If you have a full frame like a 5D then there is usually some benefit up to f/11 and I often shoot at f/11 -- f/11 on many crop bodies can lose resolution due to diffraction, however.) Fortunately, this is a fine range for everyday shooting, and it generally gives a nice depth of field. However, when it gets dark (or you want shallow DOF) then you have to open that thing up. Most zooms don't get very open (f/4 or f/2.8 max aperture) so you are a bit limited and have to start bumping the ISO and slowing the shutter speed pretty quickly in darker environments. With nice primes of f/1.4 or f/1.8, keep the aperture at f/2.0 or under and you can keep your ISO a little lower and shutter speed a little higher. I would rather change from aperture f/2 to f/1.4 than bump ISO from 400 to 800, in most circumstances.
So basically my rule of thumb for basic, non-artistic, non-sports snapshots is "keep shutter speed as high as possible up to a max of 1/200; keep ISO as low as possible, although below 400 it doesn't really matter; and keep aperture in f/5.6-f/11 range unless going for DOF effects". This is easily doable in well-lit scenarios, but once things get darker you have to start making choices.
I will give an example using my 5D and 24-105 f/4L IS lens. Say we start out bright and sunny, I'm at ISO 100, f/11, 1/200 -- meeting my goals in every regard. Now evening starts to come and things start getting darker, but I keep a static subject.
One stop darker: ISO 200, f/11, 1/200
Two stops: ISO 200, f/8, 1/200
Three stops: ISO 400, f/8, 1/200
Four stops: ISO 400, f/8, 1/100
Five stops: ISO 400, f/5.6, 1/100
Six stops: ISO 400, f/4.0, 1/100
Seven stops: ISO 800, f/4.0, 1/100
Eight stops: ISO 800, f/4.0, 1/50
Now let's say I switch to my 50mm f/1.4 lens. Almost everything above would stay the same with this lens, except I would change things up a bit, starting at
Seven stops: ISO 400, f/2.8, 1/100
Eight stops: ISO 400, f/2.0, 1/100
Nine stops: ISO 400, f/1.4, 1/100
Ten stops: ISO 800, f/1.4, 1/100
Eleven stops: ISO 800, f/1.4, 1/50
Twelve stops: ISO 1600, f/1.4, 1/50
At this point I am making a lot of sacrifices: noisy high ISO, wide-open aperture that gives very shallow DOF, and a slow enough shutter speed that camera shake might start to come into play. But if it's that dark then a well-exposed photo is worth the trade-offs.
So you can see from the above that I will usually increase ISO and decrease aperture before I drop the shutter speed. Nothing more frustrating than a blurry photo due to camera shake or motion blur. 1/100 is still pretty "safe" in this regard, but 1/200 is pretty much bulletproof unless you're shooting sports, moving cars, etc. (Note again, this is at "normal" focal lengths -- if you're using a 300mm telephoto lens then you will want a higher shutter speed. Rule of thumb there is to have shutter speed equal to 1/focal length, i.e. 200mm = 1/200, 400mm = 1/400, etc. Image Stabilization can make this not as necessary, but still it's a good rule to reach for.)