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I got a 2nd hand reba RLT solo air. Not sure quite what year. Old school 1 1/8 steerer.
The top of the damper has a blue wheel for lockout, designed for connecting to a remote (which I don't have) and a little wheel on top of that for threshold.
Is the lockout an on/off affair, or, if I manage to bodge the wheel to sit halfway, it is possible to increase compression damping without full lockout?
Depending on the year you might be able to disconnect the spring for the lockout. Then you can set it wherever you like between open and closed. You can play with the threshhold then too, have it act as weak platform. There are old mtbr threads about how they work together and how you might balance the settings.
That's not a bad idea. I can also use a short length of cable to set it where I want, though adjustment is awkward. Just wanting to know that this actually buys me an intermediate compression setting before I start?
Yes, the gold bit at the end of the cartridge progressively covers a port, acting as a low speed compression adjustment. More details here:Â https://bikerumor.com/2010/08/20/tech-article-how-rockshox-motion-control-works/

Though the pics in that article show a blue top knob that says "compression" rather than "lockout", and the article says some models "don’t have any compression adjustment externally" (I don't know exactly which I have).