Adjustment screw in oil screen in right crankcase cover

It's the adjuster for the oil filter bypass valve. It was set to a specific cracking pressure at the factory.
 
Several years back, a guy posted here that he bought a 650 new back in the day and that's how he found his screw set - flush with the nut. So, having nothing else to go by, that's how I've always set mine.
 
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