[Adger Smith]

Sounds like you are on track with some good parts and suggestions, but I question the air pressure change on the tires.
I'm a one thing at a time type.
When you soften up the air pressure you are in effect using the sidewall as a shock.
You could open up another bag of worms as to how the change makes the tire react which in turn likes another shock setting.
I would leave it the way you have it and fine tune the ride height and shock settings first.
Ride height is more important than a lot of people think.
Most guys go off of weight bias, but that isn't the same thing.
You might find it works better with out the wheelie bars, too. JMHO