I think, Gary has posted a good summary, as what it is and what it does, but I may want to add one thing.
I don't know the suspension of an Skip Barber, out of the top of my head, but assuming it's an single seater, what adjusting the perch height (spring preload) does is, that it moves the location of the piston inside the damper.
This changes the ride height, but you can readjust/compensate this with the ride height adjustment on the push/pull rods.
So, you may come back to the same ride height, but you have changed the droop setting of your damper/suspension.
Which means, how much can your damper extent, before the piston inside touches his max/min (top out/bottom out stop) position.
This can be used to affect the handling of the car, in some single seater series (Formula Ford in particular), it is very common, to run a "zero droop" front damper/suspension setting.
Because if one damper reaches his stop, during operation, it lead to a rather "sudden" change in stiffness at this axle, which in turn will affect the load tranfer. This can be a bad thing, but it can also be used as an advantge, under certain conditions.
If the damper is fitted with an "rebound spring" or elastic "droop limiter", changing the perch height will affect, the point when the rebound spring comes into contact, or if it is already in contact at ride height, will change the preload setting of the rebound spring.
this photo shows, what you would call a "perch height setting" for a coil over shock/damper.
In bikes (racing), this parameter is commonly refered to as "sag", you may find some infos about this, when you google for it.