I'd also suggest taking a look through a least the first few pages of this rather long forum post:
It basically suggests the same thing but there are some more opinions, pictures, etc to read if you're interested.
I made some adjustments on mine a few weeks back and I was shocked at how much it can really wake up these engines. Wish I had done it earlier. I kept the adjustments conservative enough to avoid smoke out the tailpipe. My EGT's are down about 75* on average and it seems like gas mileage is up a bit too since I'm not flooring it everywhere anymore trying to keep up with NJ traffic.
I may tweak it a bit more but right now I'm at 45 degrees on the diaphram, 2/3 clockwise on the start wheel, and 1 1/4 turn on the screw. 90 degrees on the diaphram gave even more power but caused a lot of black smoke on full throttle. It was the best 2 hours I've invested in my RRC ever.