The depth control, if I remember correctly, works only in all metal mode. The 10 turn audio control also compliments the depth. I usually turn the audio knob until the unit becomes unstable in the air, then rotate the knob x 2 revolutions counter clockwise to get a decent setting.
I went and did an air test with a Canadian quarter, same diameter as a US Quarter. It is nickel plate over steel, so I imagine I was picking up nickel, as it was fairly new with no real wear. With the standard 5 " x 10" DD Coil, I got 8 1/2 inches repeatable signal for an air test in zero disc motion disc mode. I tried my wedding band, a fairly small 10k ring with the same settings and it gave a nice repeatable signal at 9 inches. Just an aside, when I get a signal, I center the coil over the target, switch to all metal mode and then pull the coil towards me and when the audio stops, the target is at about at the toe of the coil. Not only do I find it much more accurate to pinpoint, but the sound quality of the target and how fast it stops gives me some insight into the conductivity and size of the target.
Hope this helps Adrian.......