Hmmm I generaly say moving the circlip 'up' richens the mixture and 'down' leaning as that's what your doing to the needle(in relation to the needle jet). The fuel is actualy metered by the annulus the difference between the diameter of the needle jet and the needle.
I have recently discovered the relationship between Mikuni flow rated jets an Keihin/Delorto size jets to be infact linear. In Mikuni's case a 200 to a 210 main is a 5% increase in fuel flow, a Keihin 160 to a 165 is still 5% increase in area of the bore thus fuel flow, although the numbering does not indicate this to be the case