right, ive got kw3 suspension on my mk1 octy. its got height, bump and rebound adjust.

what does the bump setting do?

what does the rebound setting do?

i beleive the bump setting adjusts how 'fast' the strut will compress. so when its set at stff the fluid doesnt flow very quickly effectively stiffening the ride as the strut cant compress very quickly.

i beleive the rebound setting then adjusts how quickly the strut 'returns' back out from the compressed position after taking the initial bump.

would that be a fair description of both adjustments?

Seems like a good description to me. If I'm right the v3 only adjusts low speed bump. The rebound is for both high and low speed.

Plenty of MK1 octy owners have had v3s. I'm sure some will come along with their recommended settings. Also try using the search. One of the old members, TaviaRS was very clued up on it all.