Hey kids,
I'm also in the "basic" category on this subject, but have worked extensively with IRDave and will recommend his work highly.
www.fixmybike.com
There are a number of factors that go into setting up the suspension on a bike.
1. Ride height (front and rear)
2. Spring rate
3. Spring pre-load
4. Compression Damping (sometimes high and low speed)
5. Rebound Damping (also sometimes high and low speed)
The ride height and damping adjustments are variable as is the spring pre load. The spring rate, however, is fixed based on the springs installed in your bike.
It may be necessary not just to adjust the equipment you have, but to actually replace certain parts (springs almost for certain) to get the bike properly set up. After you have the right springs in you'll move to setting up static sag. There is a good article listed here for how that is done and what the benefit of it is:
http://www.gostar-racing.com/club/mo...ion_set-up.htm
From there the factor of "feel" enters the equation, and this is the part where some good professional help is a big benefit.
To answer your other question, I've never seen two bikes come off of the showroom floor set up the same way, so I don't think we can count on the manufacturers for baseline set up.
I hope that helps, I'm sure Dave will be chiming in here soon to bring light to this area of slightly black art.
s