[406rider77]

Checked the owners manual and it looks to me that this OEM shock is at #1 on both ends, meaning it's at the softest setting, right? I tried moving the top adjuster bolt head, but didn't twist it hard. Didn't seem like it wanted to move.
Haven't ridden, waiting for tires and bearings.

 

[StarfuryTH]

The bolt at the top is the spring preload. You use that to set the suspension sag. High number means the bike will rest at a higher level. If you're 160lbs and have no gear, leave it at 1. If you're heavier, adjust accordingly You want the bike to settle at roughly 1/3 the total suspension travel when you're sitting on it, geared up.

Edit: forgot to note, do not continue to turn the bolt the same direction to go from 5 straight to 1. Doing so risks damaging the assembly. Turn the bolt the opposite direction to go back down the preload settings.

The dial adjuster is shock damping. Ill leave that for the next, more qualified individual to answer.

 

[garrettL]

it helped me to re-read their info in the owners manual, it even gives suggested damping and spring rate setting. A "standard rider" is 150 lbs so adjust accordingly
When I turned mine it did sort of feel like it was a little harder than it should be but It turned.

 

[406rider77]

Thanks guys, so spring preload (top of the shock) setting is currently set at 5, right? (as in pic)
Turn it CCW to get it to 1.

 

[garrettL]

Thanks guys, so spring preload (top of the shock) setting is currently set at 5, right? (as in pic)
Turn it CCW to get it to 1.

Yeah, the lines are kinda strange

 

[MVMike]

Spray a little WD around that top collar and the preload adjuster will work/rotate much easier for you.