Good luck getting underneath there if you're a biggie...
The trick is to move the driver seat all the way back, and have your back against the floor of the pedals. Meaning, your legs will be in the air/ceiling of the car. Remember the turn the white knob COUNTERCLOCKWISE.
It is done! Turned it back a fair bit, I'm so tired of the damn thing going off for no good reason. The funny part is that I called the Mazda dealer and they just called me back (6hrs later) and the guy says "ah I'm gonna have to do some research on this" LOL. I told him to forget it, that the forum gave me all the info I need. He was like, duh, whats a forum. The INTERNET man! That is so whacked that a Mazda dealer doesnt have access that sort of info. Thanks again for the advice folks!
Oh damn! Counterclockwise to decrease sensitivity! I turned mine the wrong way! Thanks for the link. I couldn't figure out what I did wrong (its been worse than ever), it never even occured to me to try turning it the other way. One of my dumber moments no doubt.
MS - It had no LED on it, just a little white adjustment knob. Its a black plastic box about the size of the key fob tied to a piece of metal near the steering column. Its there.
Krillin - Never had the alarm go off once the system is disarmed. Thats a very odd thing.
It does actually have a LED on it - at least mine does. Try tapping the box lightly - it lights up with each tap.
My alarm has never gone off while disarmed, but whenever I lock my doors while in the car (using the power locks button on the door) it sounds like my hazard light relay clicks once (but the hazard lights don't go off). I thought that was kind of weird.