Do participles always have adjectival meanings to some extent?

Question

I know participles tend to be more adjectival when they are used like "The running man is Bob." and "Drooling from the mouth, the dog chased after the man". But what about when they are used next to auxiliary verbs? Are they still at least somewhat adjectival? For example:
"I am running"
etc.
I can't think of many more examples off the top of my head.

Basically, I am just a little confused as to the definition of a participle.

AlpheccaStars · Accepted Answer

anonymous"I am running"

That is the present progressive tense of the verb "run."

I run five km every day.
I am running very fast.
I am running, not walking, because I am very late.

anonymous"The running man is Bob."

That is very unusual. Usually these participles are placed after the noun.

The man running is Bob.

There are exceptions for certain verbs (these are verbs because they can be placed naturally after the noun)

Mary picked up her crying baby.
Six people were rescued from the sinking ship.

Example of verbal adjectives. They cannot be naturally placed after the noun:
These are very trying times. 
It was an agonizing decision for her.
His pain was excruciating.
In https://www.merriam-webster.com/dictionary/extenuatingcircumstances, rules can be broken.

Do participles always have adjectival meanings to some extent?

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