Recent deployments of data-rich smart phones has provided a fresh impetus for designing, deploying and understanding the performance of wide area ad-hoc networks. The most popular medium access mechanism for such ad hoc networks is CSMA/CA with RTS/CTS. In this paper, using tools from stochastic geometry, we study and optimize the through put performance of such networks. We show that in ad-hoc networks enabled with SIR based scheduling, a simple modification to the transmit power level - setting it to be inversely proportional to the square root of the link gain - leads to large improvements in network throughput. This simple power-level selection is optimal over the class of all "local" transmit power selection strategies when channels are stationary, and further is at most a factor of two away from optimality in the fading case. Using stochastic geometric techniques, we also provide analytical expressions for the medium access probability in different scenarios