Edelbaum's approach to the optimization of low-thrust transfers is revisited and some simplifications are removed. The variation of the spacecraft mass due to the propellant consumption is considered in the case of constant thrust, and the corresponding numerical result is compared to Edelbaum's solution. The approach is then extended to consider variable specific impulse and thrust magnitude with constant power level. The payload increment is first computed maintaining Edelbaum's suboptimal control strategy (i.e., constant thrust direction during each half revolution). An analytical solution of the quasi-circular one-revolution transfer is then found using the optimal control of both the thrust direction and magnitude. The very-low-thrust ...