I can't seem to get the right tension to dial in my reel. It's a lews speed spool. I can't get a controlled fall, it's either free fall or no fall at all. Is there anything I can do to make it adjust easier or is it just the way it is?

Which speed spool? Magnetic breaks? If so, turn the breaks to 0, hold your rod at a 135º angle (looking straight ahead, feet are 0, head is 180, straight out is 90), and release the bait. Adjust the tension on the side until it falls all the way to the ground with no assistance. Then turn the breaks to 5 and give ti a cast. If you have a really heavy bait and slick line you may need to really crank the tension down. 

 

Mine are very adjustable. They have a good tension system. 

Yeah, what Kevin said

If you have trouble with adjustment after turning all brakes off, look at the cap spacers and be sure they are all there and not severely dimpled.

Mag breaks, it's the model above the laser spool. I can adjust my other reels just fine, set the brakes to 0, hold the rod at an angle. This one reel just doesn't seem to adjust

Must be something mechanically wrong then. Mine adjust better than any other reel I have owned. 

Make sure that the line hasn't dug into itself on the spool for whatever reason.

I would say you may have a faulty reel or defect. I have several ss1 and the spool tensioner on these are super quality with fine tune adjustment fairly easily. However I have had 2 quantum reels, one being a smoke that seem to have the same problem you are experiencing, I never could figure it out and the both are currently shelved in my garage.

With your brakes off turn your reel sideways so it's perpendicular with the ground and tip about 11 oclock. With the tension tight ease off the tension and shake your rod slightly until it starts to move. Hope this helps.

If you have trouble with adjustment after turning all brakes off, look at the cap spacers and be sure they are all there and not severely dimpled.

If you need to send it to DVT. It does sound like a worn or missing part.

Yeah I'm going to mess with it some more. Like I said I can adjust my other reels just fine, brakes at 0 etc. Just this one isn't working. I have a Lews TP that's just plain awesome, so I know the higher end reels are great and wasn't sure about the lower.

I think k I would take it apart and clean & lube it. Sometimes new reels need servicing when you pur phase them.

Easy fix.

Take out the spool and use a paper towel to completely dry off the long side of the spool shaft. There is probably an excess of oil on the end of it.

If that doesn't work, try this:

Take off the knob and use a q-tip to get a bit of the oil off the shim inside the knob that the end of the spool shaft rubs against.

check the magnets, you may have one that came loose and is sitting cockeyed in its seat.