well, yeah of course the adjustability is better, but if you're only doing one kind of welding, then it's not necessary. If you're doing alot of tig work, you'll want the lower setting, alot of heavy stick welding, and you'll want the higher(darker) setting. (unless you're of age and you need the extra light!)
I have 2 auto darkening , one with batts and one with out. I too was kinda skeptical of the battery free one at first, but I've had absolutly no problems, where as the battery one , I've forgotten to change/check the batteries and have gotten a few good flashes.
I work for a stainless steel sculptor, and due to the varied types of welding that I might encounter in any given day, the variable seetings are a must! But if you're just learning to weld, then you could just go with a cheaper single setting hood.
yeah I think the battery is a thing of the past(kinda like solar calculators-hard to find an only bettery powered model!)