Remember... your weight and riding style determines your settings. There are no perfect settings. Some like it soft, some like it hard. Most stock bikes come from the factory setup for the softer side and a rider who weighs around 140-150lbs.
Here's how I do it.
FRONT
1. I dial in each of the adjusters to max (count the number of clicks or lines for each adjuster in the process. Write down the info for each). This way you can always return to the stock settings.
2. I try to have about 1 inch of sag on the front forks when the bike is upright without a rider on it. I also work out the "bounce" (stand the bike upright, put on the front brake, compress the forks and let them rebound. If my bike returns to full extension, then dives, then full...rather than coming to full extension and returning to the 1 inch sag, I adjust rebound and preload to try to minimize this as much as possible). Most stock springs are a little weak and some stock fork oil is lightweight and the valves are pretty basic, so this step is sometimes a compromise with step 3.
3. I like to work in 2 click or line increments, so I dial each out adjuster out 2 clicks / lines to start. Then I take a test ride. Speed, twisties, braking, bumps (all included). Get a feel for the difference in the ride.
4. Then I work 1 adjuster (both forks equal) at a time. I do the test ride. Repeat till satisfied.
REAR
1. After I have gotten the front dialed in for my style of riding, I setup the rear so that when I push down on the top of the tank (the gas cap is fairly close to the center of gravity of the bike) while the bike is in the upright position, the bike stays “level†while both shocks compress. I will adjust the rear shock to get the bike as close to “level†as I can, watching for the rear shock “bounceâ€, then test ride (once again I write down the stock settings to retain the ability to return to stock settings).
2. I know this is not an exact science, but I have learned quite a bit about my bike’s suspension doing this. And if it ends up being horrible, refer to your notes and return to stock. I find I prefer the harder settings which prove to offer more stability in corners and braking while giving up the “cushy†ride. Try it, you’ll learn about your bike and might improve you handling quite a bit.
Good Luck
Nailz