i have an '02 cannible with the ohlins shocks. what adjustments are available on these shock. when you turn the the ring does that soften the suspension or just change the ride height?

 

That is the only adjustment it is called preload it softens or stiffens the susp.and changes height be careful of moving the clip up to far make sure there is always some tension tokeep the spring retainer from falling out when the susp.is drooped all the way.I know cannondale offers three spring rates for the ohlins and they are only around $60 the softest gives a real plush ride also check and lube the bushings in the a-arms they sieze up from corrosion.
I fixed mine by taking the bushings out and shaving alittle bit of the rubber bushing that allowed me to tighten the heck out of the bolts without binding them up that steel bushing is NOT supposed to spin if it does it will wear into your frame.
The 2003's have a flange on the bushings takes care of this problem they wont fit 2002.