Called SPS today (they have an e-mail but the website states they prefer to talk directly to their customers). It appears that my understanding of the system is correct and to move the pad-plate down fully means adjusting the screws so that the top screw is out and the system is secured by the bottom screw.
The competitive shooting season in Nebraska is pretty much at a close, so I won't get a chance to really put this thing through the endurance test until next year.
One note though...the pad plate on this is not field adjustable. In other words, you have to remove the pad in order to get to the screws to adjust the pad plate. This can be a problem if anything comes loose during a competition. I created a work around however. Since I want the pad plate in the fully down position, I always know where it should be along the pad. So I used my Dremmel tool to drill a small hole through the pad. Now I can just insert a 1/8" t-wrench to tighten or loosen the pad plate. This allows tightening in the field, and it allows me to continue using fitted cases.
I'm happy with the product overall (heck, shot personal bests with it the first time out). However, based on feedback from other shooters I will probably go with Country Gentleman should I need custom work done on future competition guns (http://www.gunfitter.com/