You'll get use to it and put it down to part of the Morgan charm! I have no idea why the steering column is height adjustable though......I'm average height 5'9" and have the seat almost right back as I like a fairly upright seat back but apart from dropping the wheel down by about 1/8th of an inch...to stop the plastic shroud creaking against the dash...there is absolutely no way it would go down any further and avoid my legs!
The closeness of the wheel to me and the bent arms was a bit strange at first until I realised that's how it was way back and now I rather like it!
