I found some more info about adjusting these gizmos that puts it in simple terms:
Question:
"I did a search and found that to make my TH400 shift later I need to tighten the flathead screw in the vacuum modulator clockwise.
Is this a micro-adustment or does it take full turns to get a significant difference? For example, the secondary valve spring in a Quardajet is a micro-adjustment -- every 1/8th to 1/16th of a turn makes a huge difference. Is the vacuum modulator that sensitive, or does it take 1/4, 1/2, full turns before a change is noticed? I know trial-and-error would give me the answer, but since I don't have a space to work on it (street parking and scissor jack) I'd like to have a baseline to save time before I jack the car up-and-down a dozen times. "
Answers:
"From the Summit Adjustable Vacuum Modulator instructions...."To adjust the shift points of the transmission, disconnect the vacuum hose. With a flat blade screw driver turn the screw on the inside of the modulator end clockwise to raise the shift points and firm up the shifts. To lower the shift points turn the screw counter clockwise, this will also soften the shifts.
Only turn the screw two full turns at a time, reconnect the vacuum line to the modulator, and then test drive the vehicle. Re-adjust if necessary." "
"Modulator adjustment doesn't make it shift harder. You have to modify the valve body for that. Adjusting the modulator just changes the shift points or rpm at which the transmission shifts. (ie: holds in a particular gear for either a longer or shorter period of time.)"
"The Modulator will make the shift happen by engine VACUUM... The way to set the modulator is by driving slowly without using much acceleration and allowing the VACUUM to do the shift and set the screw in the modulator for that transition point I set mine about 25MPH.... Once you romp on the gas pedal then the "detent" or "kick-down" cable over-rides the vacuum modulator for the 1-2 shift... Then it is in the governor and valve body for the 1-2 shift........Programming this requires dropping the valve body more times times till you get it where you want...but this will change with temperature and RPM......that is why many use a floor shifter in manual mode so you can shift at your ideal spots where torque is peaking.. "
So, what I'm gleaning from this handful of comments and the quote from the Summit site:
1) To make the tranny shift later, turn the screw clockwise.
2) To make the tranny shift earlier, turn the screw counter-clockwise.
3) Only turn the screw 2 times on your first adjustment attempt, drive, and readjust as necessary.
4) Do your driving tests at low speed/low throttle of about 25mph. Too much throttle will make the tranny shift later than "normal".
In regards to how many screw turns to adjust them and how many turns you can do before you can't adjust it anymore or it falls apart, below is a pic of the 3 modulators I received and the screw positions when I received them. There appears to be at least 4 turns of adjustment possible and possibly several more. Read my comments in the pic: