The Pattricke (or Lovelace, or Dunn) Manuscript of pre-1651 Playford English Country Dances
Assumptions:
"Lead up" implies a matched "fall down", or "up a double and back again"
"Sett" in a verse implies "set and turn", simply because of the musical structure.
Others disagree, considering the use of "set(t)" elsewhere to just mean the side-to-side stepping, but at the moment
keeping the comparisons between this mms and Playford in sync require the different interpretations of the instructions.
Second, in the first two dances (Milking Payle, Highway to Westminster) that have the setting instruction in the verse also
start their chorus with setting once again - while it's possible to set, then set again immediately, perhaps it works better
with something separating the setting, like some turning?
and finally, considering that the author has left out "fall back" from the "lead up" instruction, I think we may be able to 
assume a level of "you know what I mean" here.