"adjusting the knock point up or down"
With the caveat there's a practical limit in the down direction, or you begin to get interference between the arrow and shelf. This is why some positive tiller ensures one can tune a bow for a particular archer, even if he does three under and/or heals or high wrists the bow hand.
Some bowyers will use a measure of geometry, the so called "shorter" lower limb which is actually a misnomer, but usually not on heavy risered glass bows with a distinct, cut in shelf. Rather usually selfbows where there is more freedom to position the arrow pass to fine tune the tiller and nock point position to a particular archer.