There are two lines of code. Solve them top first. (For some idiot reason, maybe that it was closer to the line of answer letters, I started with the bottom--which looked, at first, like it was going to work!) When you get a letter right on the dial, it changes color on the horizontal letter line.
These are mostly pairs of letters and numbers with the obvious meaning. So B - 1 would be A.
There are also a few letters standing on their own in rather decorative fashion. But if you're paying attention, it should be fairly obvious what the next letter is anyway.
For anyone who's absolutely stuck, despite the above, and doesn't want to just Skip, here is the answer in highlightable white letters on this white background--IF I remember properly:
C O R N W A L L C O A S T
Edited on 10/10/2009 at 8:31:49 AM PST