You have three levels, standard, level1, and level2
Either way Standard is meant to be for normal people or those who want a energy efficient system, level1 is supposed be for mild overclockers who want really low vdroop and vdrop, level2 is supposed to be for extreme ocers who want the most stability in voltage delivery. That is why level2 will never drop voltage under 10mv of what you set it at idle and will increase voltage during load. So what you set is what you get plus more, a lot more actually.
In the past there was no LLC, then we got smarter PWMs(analogue and digital) and now most of them use separate ICs for loadline equation and phases switching. Now we have LLC in multiple levels on the good boards(Gigabyte and ASUS mainly) not every digital vrm board has multiple levels of LLC.