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Chlorophyll (Chl) is widely taken as a proxy for phytoplankton biomass, despite well-known variations in Chl:C:biomass ratios as an acclimative response to changing environmental conditions. For the sake of simplicity and computational efficiency, many large scale biogeochemical models ignore this flexibility, compromising their ability to capture phytoplankton dynamics. Here we evaluate modelling approaches of differing complexity for phytoplankton growth response: fixed stoichiometry, fixed stoichiometry with photoacclimation, classical variable-composition with photoacclimation, and Instantaneous Acclimation with optimal resource allocation. Model performance is evaluated against biogeochemical observations from time-series sites BATS and ALOHA, where phytoplankton composition varies substantially. We analyse the sensitivity of each model variant to the affinity parameters for light and nutrient, respectively. Models with fixed stoichiometry are more sensitive to parameter perturbations, but the inclusion of photoacclimation in the fixed-stoichiometry model generally captures Chl observations better than other variants when individually tuned for each site and when using similar parameter sets for both sites. Compared to the fixed stoichiometry model including photoacclimation, models with variable C:N ratio perform better in cross-validation experiments using model-specific parameter sets tuned for the other site; i.e., they are more portable. Compared to typical variable composition approaches, instantaneous acclimation, which requires fewer state variables, generally yields better performance but somewhat lower portability than the fully dynamic variant. Further assessments using objective optimisation and more contrasting stations are suggested.