Okay guys, a quick update.
Yesterday I rebuilt the forks; tore them down, changed the oil, recharged the oil in the cartridges, changed to the +10 springs, set the oil height and stared at the preload spacer for about an hour trying to decide whether I should cut it or not. I decided to bolt it back together.
It works! A full, glorious 7 inches of travel! Holy cow I didn't know what I was missing. I'm able to ride down hills and ledges and over rocks and things now without slamming metal on metal and cracking my wrists.
The springs ARE a bit stiff, so I may end up pulling the spacers and trimming a 1/4 inch or so, or I may swap one of the stock springs in to get the spring rate in the middle. It actually feels perfect for the type of training/play riding I do, but it might not be dropping far enough in the stroke to get the traction I need for slow slippery trials comp stuff. I'm getting about 1.5" of sag, which I think is a little short.
NO complaints though, all in all I'm extremely happy to have working suspension! THanks all for your help.
2007 KTM 950 SM | 2001 BMW R1150GS
1991 Suzuki Bandit 400 | 2008 Gas Gas TXT300 Raga