1. Is this adjustable?

Yes.

2. Is this worth adjusting?
   1. In other words...is the procedure just as error-prone, difficult, and what-not as to not make it worth attempting. I realize that this is wood and many people wouldn't care about 0.005" variation, but I do.

It’s similar in scope, but I don’t recommend it for something like 0.005” difference across the thicknessed material. ? The adjustment is accomplished by altering the planer table height on one side or the other. ?The mechanism is shown below and the specific adjustment technique varies slightly from model to model, vintage to vintage. ?But basically you either rotate one or two of the threaded posts clocking position by rotating the item #3 (if it has slots that allow rotation once the attachment bolts are loosened), or the chain is loosened, and the sprocket is re-clocked where it attaches to the underside of the planer table. ?Either way, since the support post is threaded, it acts alike a ball screw, and changing the clocking will either raise or lower the table at the corner post that’s being adjusted. ?It’s a fussy adjustment for a couple of reasons: ? 1) it backbreaking positionally, 2) the proper way to do it is to employ a dial indicator setup to visualize the height difference from the table surface to the cutterhead circumference on both sides, and 3) it’s really messy.

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