IMO compression is far more important than rebound, because compression keeps the tires in contact with the ground. Rebound speeds up the side to side and front to back weight transfer but doesn't affect grip like compression does.
I think you see far more rebound adjustable shocks than compression adjustable shocks because it's cheaper to build. Plus you can always compromise with stiffer springs and add rebound. While a properly engineered system should have high speed compression, low speed compression, and rebound adjutibility with moderately stiff springs for the best result.
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