Glad to see the progress you have made so far!
First thing to address is the rheostat. Depending on the design, it may or may not have required 3 pins. You may just be getting lucky with using two... but it all depends on which ones are used.
If all it does is compare a resistance, than two is fine. (As long as it's the middle pin, and a side pin)... otherwise, if the rheostat is supposed to operate as a voltage divider, all 3 pins will be required. From the sounds of things though... I'm pretty sure 2 pins is fine. (The board may have two of the three pins shorted together anyway... which is pretty much like using two pins. You may have made an error when you originally connected all 3 pins.)
The range of the potentiometer... It's hard to say for sure what will allow you to fine tune the voltage you want for when the dial is at 100%... easy answer is to adjust the dial until the power supply puts out the highest voltage you 'want', then measure the resistance it is set to. A little bit of math can be done to determine the best solution to solve this... the solution could be as easy as adding a resistor, or it could require a new rheostat, but we will find out when you post your numbers. (Also please post the resistance when you have it turned all the way down... it could be 50KΩ or 0Ω...)
** One of the two used wires may need to be removed to take a proper resistance measurement... or you could use a trick... There are 3 pins... Left, Center, Right... The Left or Right pin sounds like it is currently unused. If this is the case, measure the resistance from the Left and Right pins. It should read 50KΩ, if this is the case, you can measure the unused pin, and the center pin 'while it is connected to your circuit!' (but powered off to be safer) The number you get from the center pin to the unused pin will be the opposite of what the used pin will be... ( 50KΩ - reading = CurrentSetting ) So if you read 10K, that means the power supply is seeing and responding to the 40K on the opposite side of the rheostat.
Now to address the negative lead. I can't give you a yes/no answer, but I can tell you that I'm not surprised that it works without explicitly using the negative side of the output... Take a look at your board if you can, the negative input is most likely connected directly to the negative output. If this is not the case, take a closer look to be absolutely sure... If it is not directly connected even with a jumper or something else then we are missing a detail, or you have gotten very lucky and should not risk running a load without connecting the negative side of the DC output. (It sounds like the negative is common though, so you should be fine... always doublecheck someone elses intel though. I don't loose a thing if you pop anything, but you do)
Keep us posted!
