You're right about it being a PIA to get adjusted properly. And the manual, which is otherwise pretty good, is really useless on the subect of adjusting the RC valve. I haven't tried to adjust the valve to change the power delivery, but I do know that after replacing the ring the first time (which was still fully w/in spec) the bike was missing its usual snap. After adjusting the valve correctly, the thing ripped again. I wonder how many people who complain about lack of power on the newer generation CRs are riding around with incorrectly adjusted RC valve cables.
There's a good article in a Dirt Rider from earlier this year about how to do a top end job an 02-05 CR250. They suggested removing the "butterfly" actuator when removing and installing the cables. I wish I had seen that when I did my top end job -- I can see how it would have saved a lot of time and cuts on my fingers.