Depending on the rigidity of the foot you should be able to adjust the depth of cut infinitely. Even down to just scuffing the paint on your siding.
I have that same model saw (love it by the way!) and the shoe has very positive throw lever tension adjustments on it, not crappy wing nuts or anything like that. Those adjustments and the cast rather than stamped shoe were it's main selling points for me. Like the above poster said it can be adjusted from about 2 1/2 deep to just scratching the surface. Whatever you want!