ok. so how does this sound. max (or min, as it were) AFR set at about 18/19 at full load, and everything else will just be what it will be...?! Economy comes from the right boot, and thats that.
This has gone from over complication to over simplification
My EFI analogy was probably a bit clunky.
My possibly clunky understanding is something like this . . .
Max fuel screw setting dictates the absolute maximum fuel available.
Boost compensator restricts how much of the available fuel is being delivered and allows more fuel to be delivered when boost is high enough to overcome the boost compensator diaphragm spring AND engine load/throttle position demands more fuel.
If throttle position isn't demanding more fuel, boost compensator/fuel rod position is irrelevant.
When you combine high enough boost pressures, AND enough right foot, the boost compensator allows an increase in fuel delivery (within limits of max fuel screw setting).
Back off the throttle (demand less fuel) and the throttle position reduces fuel delivery.
If boost drops below the compensator spring rate, fuel pin restricts fuel delivery again as there is no demand for it.
Some examples
High load, low boost, low rpm (as mentioned by dougal ) represents early acceleration (idle or cruise to maybe 1800-ish rpm). Boost has not built high enough to overcome the boost compensator spring, therefore boost compensator is restricting fuel delivery because inceased air flow is not yet available to burn additional fuel cleanly. Restricting fuel is therefore keeping EGTs and smoke in check.
High load, high boost, low RPM.
Under acceleration or climbing or towing a load. As boost builds, it will overcome the compensator spring and progressively deliver more fuel until the fuel rod is fully depresses. Max fuel is now dictated by throttle position and the max fuel screw setting.
Star wheel position changes spring preload and affects how quickly the boost compensator feeds in more fuel. The pin profile also affects the rate at which extra fuel is fed in. This is what is tuneable.
Low load, high rpm, any boost.
Cruising, not much throttle. Throttle position controls fuel delivery regardless of whether boost is high enough to depress the fuel rod spring/diaphragm. Fuel rod position is irrelevant. right foot controls fuel delivery to meet your demand for power.
The boost compensator allows you to tune how quickly the turbo and engine can reach full boost/full power.
More fuel equals more energy to drive the turbo. More drive pressure equals more boost equals more air flow, which in turn let's you feed in more fuel.
Tuning boost compensator spring rate/preload and fuel rod profile allows you to feed in more fuel earlier, bringing on boost earlier and more torque at low RPM. This is what gets you moving quickly, and makes your rig more enjoyable to drive.
Tuning it to work optimally with your set up is where the benefits are.
Things that affect this are. . .
Turbo
Intercooler and intercooler efficiency
Exhaust system
Snorkel /intake tract
Auto or manual
Tyre size
Your appetite for power vs risk (how far will you push the limits)