I adjust my seat based on what I'm doing, gun or bow hunting. For bow, I like to set it up higher, almost as high as it'll go. Its not quite as comfortable, but you can still sit all day in it and feel like a million bucks at dark when you climb down.

For gun, its just the opposite, all the way down for obvious reasons.
As far as the bar digging into your back, not an issue I have come across yet. The seat back is very thick and you don't feel it.
This is by far the most comfortable stand I've ever sat in, hands down.