The one maceration I've done was made with 2 1/2-year-old cigarette tobacco---Skydancer brand Native American all-natural, no-additives cigarettes. Since it was so old and dried out (I stopped smoking in October 2010 when I started vaping, but I kept some cartons of Skydancer in the garage, thinking they might come in handy for barter at some unknown time in the future if the world economy goes down the tubes), I figured that it might make a weak extract. So, on my first small test batch of juice, I mixed my Skydancer extract at 40%. Wow. Complete overkill and tasted terrible. On the next batch, I lowered the mix percentage to 25%. Better, but still too much. Eventually I settled on an 8-15% mix percentage, depending on the other flavorings I use to make a given blend. At that very low percentage, my extract makes delightfully tasty juice.
As thedesbois wrote, finding the sweet spot mix percentage for your extract is a trial-and-error process.