Morgoth Bauglir
Master Of The Fates Of Arda
We've discussed this until near the point of exhaustion in BTN forum.
I think most would agree that adjusted data takes not just a step, but a tremendous leap in the direction of fairness, since it is based on the concept of the value of a goal in each season's environment (i.e., scoring level).
Each era has to be looked at individually, as to the causes and effects which predominated at that time. Some eras were particularly tough for stars to get adjusted points: most of the 60s until expansion... most of the 80s... and most of the current era which coincides with the addition of overseas players. Some eras were particularly easy as well: WWII through most or all of the 50s... the O6 expansion through most or all of the 70s.
That's not really the issue with adjusted stats though. The problem lays in the fact that the differences between eras in scoring isn't simply across the board but rather it's tiered. The drop in scoring between the 80s and the DPE had a much bigger impact on bottom-6 forwards and defensemen than it did on top-6 forwards. This isn't about some nebulous concept of "fairness" that varies with who's grinding the axe; it's about trying to get it as accurate as possible.....and adjusted stats simply doesn't do that.