The output of a biological neuron doesn't appear to be graduated. When a neuron fires, it releases a consistent signal, and it is everything downstream from the activation where dynamic learning takes place. Some connections can lead to inhibitory or excitatory signaling, reducing or increasing the voltage differentials, suppressing or reinforcing contextual signals, but the output of a neuron is a binary event.
The attenuation or reinforcement of output signals occurs discretely from the activation of neurons, so the myelin can get thicker in dendritic connections, or connections can be added and pruned, or chemistry changes can affect the signal in a dynamic way.
Once we figure out the algorithms encoded in the connectome/physical architecture, we'll have the opportunity to uncover the algorithms encoded in the data being transported between regions of the brain.