They are much for sophisticated than just speed and sea state adjustments. Our 14 year-old B&G Hydra will fall-off when tacking and stay higher when gybing, then get back on the right course. Depending on the sea state, I've noticed different settings.
The pilot seems to modify it's reaction time, depending on the lulls, knocks and lifts.
As for being comfortable sailing with a A-chute at a 25-30 degree constant heel, I've not tried that, myself :^)) My wife would push my buttons much sooner ;^)))).
As Justin, who had done a lot of deep reaching (when he blasted accross a good deal of the Atlantic from Cape May) can attest, modern quality autpilots with the right boat, the right trimming, and a crew that is willing to let the boat fly. (His J/120 with his newly installed NKE autopilot really did an amazing job. Yes they were really fortunate to have that "perfect" wind, but they really took advantage of it!)