I'm not as sanguine as some regarding the merits of "degreeing" KLR650 camshafts.
The Service Manuals provide cam timing specifications, the crankshaft degrees when events (Intake Open, Intake Close; Exhaust Open, Exhaust Close) occur. Using as-built timing index and witness marks, I'd expect once comes rather close to these specifications.
Now, unspecificed: Exactly, WHEN does a valve open, or close? A convention in the automobile industry specifies 0.050" valve stem elevation above fully closed position; however . . . don't know what Kawasaki's standard might be.
Let's say 0.050" prevails with Kawasaki also. Set up your degree wheel, indexed at TDC. Put your dial gauge atop the valve stem in question. Rotate the engine 'til 0.050" is read. Note crankshaft degrees, 0.050" valve lift after opening; 0.050" valve lift before closing. That's your valve timing.
How close to factory specifications? And, should you decide to DEVIATE from the valve timing specifications provided by the ol' meanie Kawasaki engineers who don't want anyone to have any fun, WHAT novel valve timing do you want? How much performance increase results from abandoning stock valve timing specifications?
Of course, there's the 15 crankshaft degrees available from advancing the exhaust cam one camshaft sprocket tooth. Some people say such a modification produces 10 % more power from idle to redline. Others, 'specially Generation 1 riders, say, "Not exactly;" some even restore stock valve timing.
Regardless, here's what Clymer says remains Generation 1 valve timing:
IO 19 DEGREES BTDC
IC 69 DEGREES ABDC
EO 57 DEGREES BBDC
EC 31 DEGREES ATDC
This is the valve timing evil Kawasaki engineers have foisted on their customers, robbing them of tremendous "free" power, some say.
Pay no attention to these "factory" valve timing specifications. Gain this power back, with variable camshaft chain sprockets permitting your own custom valve timing!
Hot Cams publishes their own valve timing specifications, if I'm not mistaken; I know WebCam does.