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I'm trying to understand how to change the default transaction fee that my baker will accept. I've found the following information in the Baker manual, but it isn't clear to me what each parameter actually does, especially in relation to the others:

--minimal-fees <amount>: exclude operations with fees lower than this threshold (in tez) Defaults to 0.0001.
--minimal-nanotez-per-gas-unit <amount>: exclude operations with fees per gas lower than this threshold (in nanotez) Defaults to 100.
--minimal-nanotez-per-byte <amount>: exclude operations with fees per byte lower than this threshold (in nanotez) Defaults to 1000.

Should I just set all three to 0 or would it be sufficient to set just one of them to 0?

Are there potentially negative repercussions to my baker that I should take into consideration? For example, is it possible that other bakers will not endorse my baked block if it has transactions with fees that are too low?

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You should set all three to 0 in order to accept 0-fee transactions. This will not affect the validity of the blocks you create.

One possible negative repercussion is that your mempool could be spammed with very cheap transactions and the mempool isn't currently as sophisticated as it could be. However, if that happens you could revert to requiring more fees.

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