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which I'm REALLY curious on since all my springs are bottomed out on adjustment per advice of a guy in a local guitar shop
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This is useful if you don't plan to use the whammy bar. It tightens down the tremolo so that the floating action doesn't cause your guitar to go out of tune. Especially when bending strings. If you want to wiggle the trem to get vibrato then you want to adjust the trem so it floats.
The nice thing about an electric is that you can fiddle with the setup without hurting anything as long as you don't force the truss rod when adjusting. I do my setup by eyeballing the neck for straightness, adjusting the bridge height lower until I get buzzing and then raise it up till the buzzing goes away. That and the intonation, and I'm ready to play.