It IS "adjustable" and it lets you grind till it's "powder" (as it's supposed to do). You need coffee for 1-5 shots and you don't want to grind lots of beans? This is the right one for you.

None

EDIT: I forgot to write the most important thing about Turkish Mill: I know from the experience it's sometimes too much fun to turn that joint arm :) but "NEVER" turn the joint arm if there is not enough beans in it cos it may damage the product's grinding ability in future.

Already another reviewer wrote a very detailed one so I'd like to share the secret "how to make it grind even finer".. I have another version of this product which has a square box under it and you put the coffee beans into pot (zassenhaus style). Actually that version not a traditional Turkish mill.

Traditional Turkish brass Mill consists of 4 main sections. The joint arm, lid (pull this part and put your beans there. You can even count the number of beans you want for your shot), body (grindstone here), bottom (here we will get grinded beans)

Works very simple: just pull the lid, put the beans, close the lid then start turning the joing arm. that's it.

By default you'll get fine particles enough for espresso shots, but lets say you want to brew coffee in Turkish style. Then you will need your coffee the finest possible which is "powder".. Here I am talking about fine as flour. Pull the bottom container, you will see adjusting nut is underneath the burrs.

Actually here's a detailed explanation from sweetmarias site (both for traditional Turkish Mills and Zassenhaus ones;

To adjust your grinder:

• Turn the knurled adjusting nut on the handle shaft counter-clockwise until it cannot go any further (don't force it), then turn it clockwise one turn. Operate the handle by turning it clockwise (remember, always crank your grinder clockwise!) and if you feel resistance, turn the adjusting nut further clockwise. When you no longer feel resistance or hear any metallic sound from the burrs, you are set to grind for Filter Coffee. One half turn clockwise from this position will produce an excellent filter coffee grind. With the adjusting nut turned all the way clockwise, you are set for your coarsest grind. In review:
  
  
• Filter Drip: turn the adjusting nut fully counter-clockwise, then turn it clockwise just to the point where the burrs no longer contact each other.
  
  
• French Press: Turn the adjusting nut 3/4 turn clockwise (coarser) From the filter drip setting -Adjust according to taste. I know, it looks fine. But try it! Finer is better! Remember, the optimal grind for any coffee brewing method is the finest setting possible that will still keep sediment from escaping the filter/screen into the brew.
  
  

Turkish Mill: The Burrs should rub continuously when set correctly. Your adjusting nut is underneath the burrs.

Grain Mill: The adjustment dial is marked for Fine and Coarse

Bought it from Spice Bazaar so not only the grinder but also buying experience was traditional Turkish way too! I already had the same one actually, just bought another one today.
I asked "how much it is"
he replied "$10"
I asked "hmm.. how about $7?"
He replied "it's yours"
YEAH!
Then he made a demonstration to prove the mill is working fine. Overall; GREAT customer service, lifetime guarantee and good negotiation skills. I'm a little bit offended though. He checked the money I gave him to see if it's fake or not! :P