Interesting observations,my DM Adventurer is at least as dark as either my Penmans or Delk's AB.Hi, again, Kermit. Many valid points made and opinions debated in the thread following your post. A few things to keep in mind:
1- The Fed IV really was developed by Hats Direct and Akubra with design input from knowledgeable members of Indy Gear and the Club Obi Wan forum (including hatter Steve Delk, who created the legendary Adventurebilt hat line and made the hats for KINGDOM OF THE CRYSTAL SKULL), intended as an affordable Indy-style hat. (The brim is slightly smaller on the sides than THE hat.) Read through the comments in the Fedora section on COW and you'll generally find great praise for the Fed IV.
2- I bought a David Morgan Adventurer first, before I knew of the Fed IV. The Adventurer is indeed a nice hat, made of a lighter, floppier felt. But it's also a lighter color, and I don't think the crown is as square and boxy as the Fed IV, so to my eye it yields a bashed shape that looks less like a RAIDERS or CRYSTAL SKULL hat than the Fed IV. After I got my first Fed IV, I actually sold my DM Adventurer.
3- Personally, I preferred the slightly heavier (though by no means TOO heavy) felt of the Fed IV. It feels sturdier and more likely to hold its shape over time, but it will soften with wear, time -- and a few adventures!
4- How much do you want to spend? The Fed IV (and Akubras in general) are designed to be affordable, sturdy, high-quality production hats. While I'd love a more expensive custom hat (even though I'd do my own bash from an open crown because it's fun), I couldn't justify the extra cost.
5- The only time I ever had any stranger say, "Hey, Indiana Jones hat!" to me was when I wore my Fed IV to the actual "Indiana Jones & The Adventure of Archaeology" Exhibition at the National Geographic Museum in Washington DC. Most people don't know or care. If you like the hat and style, just have fun wearing it