My 03 200 smokes a lot too. It is most likely a jetting problem. If you haven't already done so, read the "Carb Tuning" section of CD's JustKDX web site, then do a search on this forum for jetting.
A 150 main sounds reasonable but that depends on your altitude, temperature, and relative humidity. The 48 pilot (stock on my 03) sounds a little rich, and I bet your needle is in the mid position (stock) too. I suspect experimentation with a 45 & 42 pilot, and possibly a change in needle position, will get you closer to your goal. Make your changes one at a time so you can gauge your progress.