Since there are not that many combinations, running the numbers we get table:
Level Max. Quality Cost @ Max. quality
----- -------------------- -------------------
1 22 11+3*(8-1) > 22 25 3*1+22
2 22 11+3*(8-2) > 22 28 3*2+22
3 22 11+3*(8-3) > 22 31 3*3+22
4 22 11+3*(8-4) > 22 34 3*4+22
5 20 11+3*(8-5) < 22 35 3*5+20
6 17 11+3*(8-6) < 22 35 3*6+17
7 14 11+3*(8-7) < 22 35 3*7+14
8 11 11+3*(8-8) < 22 35 3*8+11
As Simon says, your suggested summa would be perfectly acceptable.
What we also see though is that it would actually have been simpler to just say
- 3 x Level + Quality (Level limit: 8; Quality limit: 22; Cost limit 35)
Optimum is an entirely different question though. That depends on how optimised the mages in the covenant are for learning from summa, their starting arts, how high they realistically want their arts to get before having to find new books and what the vis availability in the campaign is likely to be, amongst many others.
In most campaigns I've played in, right back to 2nd edition, players have been more than happy to sacrifice almost anything to get a good library, and then spent significant time in game making their libraries better!