Just to make sure I didn't cause any confusion, this is what I have learned after messing with the pedal the last few days.

In order to increase the amount of free play the pedal has, and to have the clutch grab LOWER, you want to shorten the length of the pushrod. This can be achieved by turning the pushrod counterclockwise once you have loosened the locknut.

If you want less freeplay, and want the clutch engagement point to be higher off the floor, you need to increase the length of the pushrod by turning it clockwise once the locknut has been loosened.

According to the CM techs, the more aggressive the clutch, the more freeplay you want. From messing around with my pedal, the most free play I was able to achieve was 1.5" which is exactly what CM recommends.