What is the recommended procedure for adjusting the fit of my bike?
There's quite a lot of discussion on the subject of fit, and some folks have considerably different ideas in this regard.
I use the old-school methods to get close, then try to "dial in" things according to what my body tells me.

Seat height should be such that you can easily pedal "circles" without rocking or stretching, nor by over-flexing the knee.  It's hard to describe...Essentially the leg should not be fully extended at the bottom of the stroke.  Just short of being fully extended.
The thigh should be more-or-less level at the top of the stroke.

The fore-and-aft measurement is often neglected or even ignored.   Again, the classic measurement is that with the pedals level (3 and 9 o'clock) a plumb line dropped from the bony process just below your kneecap should intersect the pedal's shaft.
That's assuming you're sitting on the saddle properly, with your "sit bones" on the heavily-padded portion of the saddle.
Saddle attitude is one of personal preference; I prefer just a few points nose-down from dead level.
"Reach" is somewhat dependent on the type of bike.   On roadsters, you want the reach to the hoods such that you can ride with a relaxed upper body at a reasonable angle.  Some authorities advise such-and-such a percentage of weight on the hands, and such-and-such on the seat.  You don't want to be totally supporting your upper body with your arms.
I've seen folks who maintain that these things are "all wrong", and propose all sorts of ideas for getting the perfect position.    I know I can ride comfortably and without hurting anything using these methods....