My experience and that of other CAESAR II users I've discussed this with indicates that a OCM value of 5 or 6 typically provides more realistic stiffness values than the default of 8.

I would recommend that the CAESAR II default value be changed to 5, as many users cross their fingers & hope that the default is appropriate.
That said, the user should have an idea of what soil stiffness is appropriate, and either use the OCM to acheive it, or enter their own stiffnesses as Dave suggests.
It is also wise to consider an envelope of possible stiffness values; such as +/- 20%.

There is a helpful guide available on the Internet that addresses soil stiffness and other pipeline design issues:
American Lifelines Alliance - Guidelines for the Design of Buried Steel Pipe.
http://www.americanlifelinesalliance.org/pdf/Update061305.pdf

J.