OK, thanks Andrew, much appreciated
In the spirit of trying to figure things out for myself, I've had a read of the application note where I found the above diagram and I think I now know how this circuit works.
Depending on which way the current is flowing, one transistor is 'on' while the other acts as a current limiter.
The limiting current is approximately Vgs(th) / R1
For the BPS129, Vgs(th) is between -2.1 & -1.0V
So if R1 is 20R, the current limit will be between 105mA and 50mA
Below the current limit, the whole circuit behaves like a resistor of about 30R
If we used DN2540 instead, Vgs(th) is between -3.5 and -1.5V
So we could set R1 to 30R for similar current limit range....
How did I do?
It's been a while since I did anything like this, but I can feel the cogs grinding and starting to free up....