the theory is that you can adjust the "level" of gas getting to you, so that
you can turn it down at the surface (and prevent free-flow) and turn it
up at depth (and get more air)
i find that this is really useless. with a good reg, you can get all the air at
depth you need even in the lowest setting. also, with good technique
(stow the second stage properly or keep it face down in the water), you
dont' have to worry about freeflows.
so... my view is, the adjustable stuff is an uncessary expense. for example,
i have an Apeks 40 and an Apeks 50 second stages. the only difference is that
the 40 doesn't have the adjustment and the 50 does
well... i can't tell the difference between the two of them. they're basically the
same thing. i never mess with the controls on the 50 anyway.