Hi DLyttle
Link from Bertrand is good info, but first lets start with a bit more information:
what year is your DR?
what mods have already been done to the bike?
what elevation (where) will you be riding it?
The stock jetting and fuelling is lean on the DR650, but the main issue for running at high altitude is the restrictive stock airbox setup, this can be modified very easily though!
If your DR650 is stock it will have a small 'snorkel' in the top of the airbox, this limits the amount of air getting to the carb.
Most DR650 riders will do 2 things, adjust the jetting/fuelling COMBINED with what is referred to as the 'Airbox Mod' which involves cutting out most of the top of the airbox.
You CANNOT do only one of these mods, they must be done together or you will end up running the engine way too lean (airbox mod only) or running way too rich (jetting carb only)
The best results are if you do both of these mods AND switch from the restrictive stock exhaust to a free flowing exhaust too.
These are solutions to make the DR650 run better - and better at altitude in ascending order of cost:
1) Depending on how high in altitude you intend to go, you could increase the fuel flow by removing the EPA blanking plug on the carb and fitting an extended fuel screw, increase the fuel flow and remove airbox snorkel. At very high altitude you may have to run the bike with the side cover off the airbox and make a slight adjustment to the fuel flow.
Cost $20
2) Jet the carb & do the 'airbox mod' as I mentioned, fit extended fuel screw.
Cost $80
3) Jet the carb, do 'airbox mod', fit extended fuel screw, fit a decent freeflowing exhaust.
Cost ~$400 - depending on exhaust system.
Which ever one you do, first thing to do is to fit a TwinAir filter!
There's also a few other tweaks that can be done to improve the throttle response too. we wont get into that yet!
A lot of guys also fit TM40 pumper carbs - which are $450 and still need the airbox mod and a decent exhaust too.
Pretty much all the information you need for the stock BST carb is here:
The BST-40 Bible - ADVrider
Here's MXRob's website too, he has done just about everything you can do to a DR650, including fuel injection!
http://www.mxrob.com/
Best BST40 jet kit IMO is Procycle's own kit, it has the extended fuel screw, drill bits to remove EPA blanking plug/drill slide, new jets and needle with clip slots and a 'D' spacer, which is much better than using washers as shims with the original needle. It also comes with hex cap bolts to replace the soft screws that the BST40 is held together with.
For any carb work I suggest removing the carb from the bike completely, it is quite quick to do and makes working on it much easier, it is a very simple carb and easy to work on.
My current set up is:
-extended fuel screw set at about 1.5 turns out
-Procycle needle, washer set at 4th clip from top.
-Slide drilled
-150 main jet
-airbox mod done
-Keintech mid pipe with GSXR 1000 Titanium exhaust and FMF USFS spark arrestor fitted
-TwinAir Filter
For all things DR650 look here:
http://www.procycle.us/bikepages/dr650.html
Hope that helps, let me know if you need any more info