For the extra couple ounces, a well engineered adjustable torso is definitely worth the weight and cost. I like being able to dial in the perfect fit. That fit changes with the season, my clothing, the load, and my mood. With two back surgeries, a rebuilt shoulder, and another shoulder due for surgery, that "mood" changes even throughout the day.
Also, all of my packs eventually get handed down to someone else, and that's usually a growing scout. I'd hate to be unable to recycle my gear because I can't find the right-sized recipient.
By the way, load lifters go hand-in-hand with the adjustable torso to make for a good fit for me. Some days, I just can't carry any weight at all on my shoulders.