Which is the best gimbal mode to use for walking along a street?

Originally I was using "follow me" mode, but that seems to have a fair bit of bounce as you walk.

I then tried "tilt lock", which seems marginally better.

Any other suggestions to minimise the 'bounce' as you walk while recording?

Tilt lock would be the most suitable option. There is always some bounce when walking, but I do wonder how the small size and light weight of the OP will effect this, whether in a positive or negative way.

Is tilt lock how you achieve flashlight mode?

To activate flashlight mode turn it horizontal to the ground and recenter the gimbal. Flashlight should improve the bounce while walking as well.