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A 40 pilot is way too rich for a 150, even at sea level. A 38 would be fine at sea level.
I'm at sea level, and currently running a 35 pilot and a 110 main, but it's still a bit lean.
This week I'll be swapping out the 110 main jet for a 115.
I did add about 2.5 turns on the AF screw, to get it to idle better when cold.
A lean idle is no problem, so long the bike starts from cold.
Once warms up, the bike should hold idle fine.
The pops on decel are from a lean idle jet, but usually are harmless. Can be avoided by opening the throttle a tiny bit, or dialing in some more fuel on the AF screw.
Aside from the idle (or pilot) jet, there is the AF screw (jet), and a bit of the main jet helping out the pilot. The higher the idle, the more of the main jet you dial in, and the richer it'll idle.
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