A pulley assembly for a compound archery bow comprises a set of multiple power cable pulleys and a draw cable pulley. The draw cable pulley is arranged to be rotatably mounted on a bow limb, to let out the draw cable when the bow is drawn, and so as to have interchangeably mounted thereon any one of the multiple power cable pulleys. Each power cable pulley is arranged to take up the power cable when the bow is drawn. At least one of the power cable pulleys is arranged so as to result in substantially negligible let-off of draw force of the bow. At least one other of the power cable pulleys is arranged so as to result in substantial let-off of the draw force of the bow at a corresponding draw length.