I've got an address with a single transaction with 11 inputs and 142 outputs. Is this something worth consolidating?
It looks like you are a bit confused. There is nothing to consolidate here. Your address was one of the 142 outputs in that transaction. The number of its inputs is irrelevant. Since that output has been included in a transaction, it is now an Unspent Transaction Output (
UTXO).
In electrum preview spending from that address with max selected, it shows 1 input 1 output. Will this be the new input/output values of the address if I send max?
That UTXO can now be used as an input in a new transaction. Since you received only one transaction to your address, you will only have one input. Outputs are the addresses which will receive the coins from you. If there is any change left from an input then another output is created. That output points to one of your addresses from the same wallet (either a change address or the address from which the coins were sent). If you received 10 transactions and wanted to spend all of your coins then you would have 10 inputs.
What are optimal input/output values for an address as it would relate to fees in the future when it's spent?
The more inputs and outputs you have in a transaction, the more fees you have to pay. As for the optimal values, let me quote LoyceV.
Example
18 days ago, someone made this 4909 bytes transaction with 33 inputs and 510 Satoshis/byte fee. After paying fees, his 0.033BTC turned into only 0.0079539BTC. If he would make the same transaction now with 20 Satoshis/byte fee, he would have saved 0.024BTC. Instead of just 0.0079539BTC, he would have ended up with 4 times more!