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Why would you need an adjustable front sight? Definitely not for a handgun. Is the rear fixed? usually the rear is adjusted for elevation and the front would have to be moved in the dovetail from side to side to adjust windage.
Robchar may be thinking of the 4 position presettable sights used on some target or PPC revolvers that S&W made. Each position was independently settable for height and a knurled ring allowed easy and quick selection of each setting.
But I've got no idea if they were made for anything else.