Thats a good place to start, however doing so on a stock rear shock doesnt help too much, you need to purchase an ohlin rear shock or something comparable to actually be able to fine tune shock, or have your stock one revalved..
On my 03 1000 it relly made a differance when I played with the sag. It enabled me to run lower ride height without botteming out against the under tail.How far from the track does your bike sit?(from rear of the lower fairing?)
Set the one on top (compression) all the way out (soft), and the one on the bottom (rebound) all the way in (hard). Start from there and make any adjustments as necessary. That's how I did it.
hope this helps.
I don't know if y guys run bars but my buddy did, and pingle supplied him with a strut that replaced the rear shock and made his bike into a hard tail pretty much.
and yes when he wasn't dragging he rode around with the strut still in, his GF hated the ride