I am No Expert but I Read alot. I just set up my 05, and this is how I did it.
Set the rear shock at 40% Travel, to do this you must have the bike suspended on a stand, Loosen the rear spring adjustment bolts all the way down and measure full travel of the swing arm. Now measure to a point on the rear fender to the center of the rear wheel bolt and figure out 40%. retighten the spring nuts to take any slack movement out of the spring. Now put on all your riding gear, get the help of someone, place the bike on it wheels with you standing in a neutral normal riding position remeasure the swingarm to the fender distance again. Now by adjusting the compression of the rear spring turn the nuts tighter till you are at that 40%number.
Do the front the same way only you just have to loosen the fork with the spring in it to get the full travel measurement. then reinstall and aim for approx 25% by twisting in the top screw of the fork with the spring in it.
For the damping start with them all the out and as you ride adjust 1 Click at at time till you stop hitting the bottom of travel, experiment from here.