A single-cam compound archery bow that includes a bow handle having projecting limbs, a control wheel rotatably mounted on an end of one of the limbs remote from the handle, and a power cam rotatably mounted on an end of the other limb also remote from the handle. A power cable segment is anchored at one end to the one limb and at a second end to the power cam at a position to wrap into and unwrap from a power cable groove on the power cam. A bow string cable segment is anchored at the control wheel and at the power cam at positions to wrap into and unwrap from first and second bow string take-up grooves on the control wheel and power cam respectively. A control cable segment is anchored at the control wheel at a position to wrap into and unwrap from a control groove on the control wheel, and is anchored at the power cam. The length of the power cable groove at the power cam and the anchor position of the bow string cable at the control wheel are both adjustable for adjusting draw length of the bow. This is preferably accomplished by means of draw length modules replaceably mounted on the power cam for adjusting draw length in increments associated with each module, and by provision of a plurality of bow string cable anchor points at the control wheel for associated incremental adjustment of the draw length. By adjusting draw length at both the power cam and the control wheel, a flat contour is maintained at the peak of the force/draw curve, and a greater amount of energy is stored in the bow for a given draw length.