That's the basic procedure I've used. You can then dink with it to get good take-off throttle response but be careful not to go too lean. To really adjust it spot on requires either an emissions testing machine or, at least, a vacuum gauge but, since there is no place to attach a vacuum gauge to most cycle / ATV carbs, that's kinda tough. Once you have it set with this procedure, you should run it all the way back in to a GENTLE seat (never "tighten" it or you will damage the seat and/or O-ring) and count the number of turns it took to get back to just seated. If it is more than 3 1/2, you will almost certainly need to go to a bigger pilot jet 'cause your not getting enough gas and having the idle screw out farther than 3 1/2 turns is risky as it won't have enough friction to hold well and can run itself out completely from vibration and just fall out. Of course, once you run it in to count the turns, run it back out where it was again.
EDIT: Oh yeah, make sure your idle speed is properly adjusted before you start the procedure and, as you adjust the pilot screw, you may (likely) need to re-adjust the idle speed. Also be sure the engine is completely warmed up before starting adjustments.
Mine: '02 660 now in custom Hammered Copper paint
Mods: Custom air box mod for big-o' clamp-on K&N, Dial-A-Jet, 26" BH 2.0's on ITP SS 106's, SuperTrapp IDSX exhaust, Maier fender flares, black Ricochet skids. Remote res. Works A-T Steelers shocks on all 4.
Hers: '04 660 LE (Ruby red)
Mods: same A/F mod, 1.5" billet spacers with BH 2.0's on stock wheels, Yami aluminum skids.
That which doesn't kill you, leaves scars to remind you not to do it again