This seems to me a fairly new thing. Broadheads with adjustable cutting diameters. Muzzy has a fixed head that can vary its cutting size. Wasp has a variation of the Jak-hammer that you can select between two different cut sizes. My question is why would this be beneficial. What circumstance makes it necessary to change the cut of your broadhead? If you buy a mechanical for its large cut, why would you then make is smaller? Fixed blades are already small by comparison, why would you make it even smaller or how much bigger could it be before it doesn't fly well. Seems like a useless gimmick to me but I could be missing something.
One situation in which I think it might be useful is if you want a 2" cutting diameter for turkey but might not have the KE for deer so you switch it to 1.5" or whatever. That way you can use the same head for deer and turkey. If you have the KE for a 2" cutting diameter on deer then I guess it wouldn't be useful.
Blood runners are a great hybrid broadheads 1" to a 2" with no adjustment. I killed my big 11 last season 2 inch entry and exit I feel they are a fail safe broadhead