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Hello,
As with all impacts, the torque/power management system reduces the air flow to the tool which reduces the power output. There is not an exact ft/lbs setting for each position since there are too many variables to make this an exact science. The torque (power management) setting on the back does go from lowest to highest power but on the first setting of this tool the torque is probably around 100 ft/lbs up to 340 ft/lbs at the high position. Please remember that each time the impact hammers the nut it gets a little tighter.
This function/operation is consistent with any brand automotive impact wrench on the market and not specific to Craftsman.
Thank you for choosing Sears.