This table shows why I don't understand the reasoning behind pendulum sights. Under normal bowhunting conditions, the "adjusted distance" really isn't different from the horizontal difference (not enough to matter).
For example, if you are 18 feet high in the tree, the brilliant self calculating pendulum sightis going to tell you that the deer that looks 20.8 yards away is really only 20 yards away. Big deal. I'm still using my 20 yard pin either way. Why do I need that pendulum sight?
At further distances (like 30 yards) it becomes even LESS significant. And if your treestand is 15 feet instead of 18 feet, it's even LESS significant.
It only becomes significant if you hunt really high in a tree (say 40 feet or higher) AND you are shooting at really close animals (less than 10 yards). Otherwise, fixed pins are just fine.
In my honest opinion, the pendulum sight ranks right up there with the Butt-out tool and Gum-o-flauge. Products that technically do work but are totally and completely un-necessary. Practice from your tree, bend at the waste, and you'll be just fine.