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I'm using Suzuki Hayabusa shocks and springs all around on my car. They are mounted directly to the arms in the front with a significant layover, and horizontally in the rear actuated by a push-rod and bell-crank. Both front and rear have a motion ratio close to 2 for about a 200 lb/in wheel rate. Anyway, they hayabusa shocks have two adjustment knobs on them - one at the top near the reservoir labeled COM S<--->H, which I assume stands for compression, and one near the bottom labeled TEN S<---->H which I assume stands for tension. Sport bike tuning sites say to adjust compression dampening using the top one and rebound dampening using the bottom one, which is consistent with the labeling.

However, after taking a spring off one of my shocks, I found the compression dampening adjustment doesn't seem to do much, and the lower "tension" dampening adjuster seems to adjust both compression and rebound dampening. This was just a subjective observation based on pushing/pulling the shock manually, which is obviously low speed. I took a spring off a second shock and tested it, and it seems to behave the same way.

So, is the compression dampening adjustment only for high speed and has no effect at low speed? And is the tension adjustment really a low speed bypass adjustment which affects both compression/rebound? Or am I missing something?

Not sure. Here are the typical settings.

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Miata UBJ: ES-2074R('70s maz pickup)
Ford IFS viewtopic.php?f=5&t=13225&p=134742
Simple Spring select viewtopic.php?f=5&t=11815
LxWxHt
360LA 442E: 134.5x46x15
Lotus7:115x39x7.25
Tiger Avon:114x40x13.3-12.6
Champion/Book:114x42x11
Gibbs/Haynes:122x42x14
VoDou:113x44x14
McSorley 442:122x46x14
Collins 241:127x46x12

That's consistent with how I thought the adjustments should work. I don't think both of my rear shocks would be misbehaving since they are from different sources, but it's possible. Perhaps I'll take the fronts off as well and check them. I guess I must not be moving them fast enough for the adjustments to do work correctly, they must be for the high speed valving.