I agree with Jake and the KISS method works best here. We have the more complicated setup (picture on the left), it beats the daggerboards to pieces when they are raised, and we hardly adjust them. When we bought the boat, the lines were practically corroded to the cleats, from lack of adjustment. Its really a set once and forget deal on the cats, imo.
Adjustables rock for distance racing - they let you vary your leverage to keep the hull skimming on a fixed course as the pressure varies. They also let you get into a high position out of the waves - which is really nice when reaching in confused seas.
Even around the cans I quite like them. The high setting is good for marginal trap conditions. Simple (dogbone with hi/low position) works pretty good as well though.
Chris.