I've built a dozen or more of those saws.......I just stick an allen wrench it and turn it. The splines just strip....click...click....click.
Yeah, that's what I do too. It's by far the easiest way to reset the position of the limiter on the screw for more range. I don't think it really strips anything in a damaging way.
OP, I think you can avoid having to grind anything -- just turn the screw past where you want it, then pop the limiter back on and presto, you can dial around the proper point pretty easily. You're really just resetting the cap, much like the click-click approach Mastermind mentioned.