Hello Dittybag.
You are right. The pre-'68 cars had a vacuum control switch in them. The switch's job was to keep the O.D. engaged if the driver decided to manually disengage the O.D. while decelerating. This was done using manifold (vacuum from the throttle plate downstream) vacuum. This vacuum is highest during deceleration. When the driver stepped on the gas again, manifold vacuum would fall off and the vacuum switch would open. That would allow the driver's command for the O.D. to disengage to be implemented.
You said it takes very little vacuum to operate the switch. It may be a little tired. I don’t have the specs for what the switch originally called for to close, but if it was calling on manifold vacuum under deceleration to operate, it would have been pretty high.
Can it be calibrated? Not that I’ve heard of.
Even with a supercharger, when you decelerate, manifold vacuum will be high. The presence of the supercharger will have no impact on vacuum on deceleration. If the switch is still operating as it was built to it will continue to work as it did.
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