Dynamic knee balancing devices, systems and methods provide for enhanced total knee arthroplasty ("TKA") procedures. Devices generally include a stationary femoral member for removably attaching to a distal femur and an adjustable femoral member coupled with the stationary member for adjusting ligament tension of the knee. The adjustable femoral member includes at least one positioning feature for providing positional and/or orientation information for facilitating the TKA procedure. Additionally, the adjustable femoral member is movably couplable with a tibial member engaged with the proximal tibia to allow movement of the knee through a range of motion without removing the device from the joint space. When the adjustable femoral member is adjusted, the positional feature(s) move relative to the distal femur to provide positional information.