Hi,
From my understanding, that should be the air screw you're referring to. So, if your jets and idle knob are set right, you're adjusting the idle in the correct place. Turning it in will decrease the amount of air intake, and increase the amount of fuel--richer on fuel, leaner on air. I think 1.5 turns is about standard, so you could start with that and adjust until you get a fast idle and clean rev that drops back to steady idle immediately after you release the throttle.
Cheers,
-John