I typically go with realistic. However, the level of combat challenge often isn't an issue with my group, as they abide by the philosophy of "if a shot isn't fired during a run, then you did it right". This may change as they have recently acquired a mortar.

But there you have it.
It also depends on the scope of the game. If a particular shadowrun group is regularly mowing down security guards and the security company is not meeting its contracts, that security company is quickly going to get canned and replaced by a stronger, more aggressive security company (i.e. Knight Errant), making the overall difficulty of future runs significantly harder. If there is a rash of Shadowruns against a particular company, that company might start to reallocate its "security assets" against physical incursions. Likewise, if there have been a lot of infiltrations recently, the level of corporate paranoia might increase (now using retinal scans instead of name badges).
Note that any opposition can be challenging, given the right circumstances. If you are having trouble with runners greasing your security guards, use ambushes, flanking, and other tactics (a well-placed grenade can do wonders). If the opposition is too difficult, you can have the runners captured instead of killed (hey, the runners should know to run if they in over their heads... cutting and running is a time-honored shadowrun device).
The runners also have to be sophisticated and professional enough to learn when to turn down a job (and when I plan my runs, I try to give them that option) if the heat is too much, or at least ask for more pay. Likewise, a Johnson/fixer isn't going to hand over a cakewalk run to a group of experienced shadowrunners... why pay more, when paying less to a newbie group would achieve the same results?