When I bought my first CA from Ted a few years ago I was concerned tha not having a truss rod would become a problem but it never was. As pointed out already you don't use the truss rod to set the action but too much relief can be a problem so if you are after a very low action suitable for fingerstyle and not much more than you will want the ability to adjust the truss rod. Rainsongs new N2 neck has an adjustable truss rod and I'm told it's been a huge hit.
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