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i like having a larger nut on top... it makes it easy to adjust by hand while you are riding the bike (like "oh i forgot i have this set super tight cause i was riding fast... now i'm riding over bumps... loosen'erup!")
also to address the whole 'just cut pvc' issue; the problem is that you have to cut and check and cut and check and cut and check and if you lose 5 lbs or change gear, you get to cut and recheck all overagain. with a simple screw adjuster, you can sit on the bike and have someone measure your sags and be done with adjustment in 30 seconds. yes it takes a little prep work but for people who want more control depending on the situation (track conditions, street and road conditions etc) its almost mandatory... and DIY preload adjusters accomplish the same thing without buying a $100 piece of metal
another thing to note is that preload is not a replacement from properly weighted springs. its in addition to spring and oil changes.
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