Newf you should know I wasn't trying to lecture you, I was really just posting up my own thoughts on the concept. Sorry if it came across otherwise!

What I meant by underadjusting was that, assuming we decide to adjust one way given an opponent's tendencies, say by widening a calling range, we actually do not widen it enough. So we've adjusted, but not quite enough as we should have. Say our opponent raises 50% in a given position in the long run but our stats on him indicate 30%, and we adjust by widening our continue range somewhat, while we should probably widen it considerably more.

By perfect adjustment I just mean the type of adjustment we could make had we had perfect information on the opponent, all else being equal (i.e. either ignoring or completely taking into account their own propensity to adjust). Again it's kind of a mythical thing and probably not very useful in actual analysis and play.

By the way I'm glad to see you're back on the forums!