You don't want to torque that nut or it will put too much pressure on the wheel bearings and they will overheat and wear out or fail.
I think the guideline is to tighten it by hand and then back it off about 1/4 to 1/2 turn. Then bend down the locking tabs to keep the nut in place. You don't want it so loose that the bearings have free play though when you try to rock the brake rotor back and forth.
Once you've driven a bit, feel how warm the hubs are. They shouldn't be more than a little warm. If they feel uncomfortably hot, the axle nut might be too tight. If you only replaced one side, you can compare the temperature of the hubs from left to right--they should be about the same.
A lot of brake use can also warm up the hub, so try to be gentle on the brakes during your test-run so you can gauge how much heat is coming from the bearings.
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