So, (if I understand correctly) water depth really has no bearing on the adjustment? It has to do with water movement? So basically, as long as I'm not swimming into a strong current or playing with a DPV, there is no real need to spend the extra $$$ on an adjustable 2nd stage! (Or am I misunderstanding that?)
Yes, but as mentioned they dont necessarily add to the cost when compared across manufacturers. A single manufacturer will usually use this feature to help differentiate and justify the cost of their higher-end models.
The primary disadvantage to non-adjustable 2nd's is the inability to quickly "de-tune" them during a dive to prevent freeflows
Agreed. There are a bunch of different names, but most regulators sold now have a knob or lever to minimize the annoying excessive freeflow when the regulator is out of your mouth like an Octopus when you are entering the water. It usually modifies the flow dynamics in the housing, and reduces optimum inhalation resistance at high flow rates (like working hard at depth). Generally, this feature shows up on bottom to middle cost models and seat loading adjustment knob is added to as the price increases within a manufacturers line.
Atomic has a feature they call Automatic Flow Control which adjusts this action automatically based on depth where the highest flow performance is beneficial due to the increased gas density. This is in addition to the adjustment on the seat counterbalance spring.