I weigh 175 with all my gear on, and when I picked up the bike, both preload adjusters were maxed out stiff. For the rear, you'll need a hammer and drift punch or large screwdriver to loosen the lockring (top one) and then patiently knock the adjuster ring around anticlockwise until your sag is in the right ballpark. I've only got about two threads left above the lockring. Don't forget to hammer the lockring back tight when you get the sag dialed in.
To get my front sag in the ballpark, I had to unwind the preload all the way, then run it back in two full turns. When I got it it was pretty much maxed out - 6 turns in!
It's never a good idea to "back off" your damping settings, especially if your preload is too high. You'll get crazy pogoing and topout, which can really upset the bike. If anything, with too much preload, you need more damping to control things. Mine is working well at 1-1/2 turns out from full hard (all the way in) on both rear adjusters, 2 turns out on the front rebound and compression. I have a track day coming up to really dial her in...