If I were to set my race sag to 100mm on my KX250 it would have so much head shake it would be impossible to ride.
Your race sag should be between 105 and 120mm, depending on the track conditions, the lower number for tighter stuff and the higher number for faster more open courses. Less race sag will steepen the rake on your steering making the bike turn faster, while more will lengthen the rake and make the bike more stable at speed.
And to answer your question, YES, you currently have too much preload on the spring. Loosen the lock ring, and take a few turns out until you get it to 105mm. Then re measure your Static it should be right on the money.