How do you position the tensioner arm for a 355 timing belt?

What is the proper unloaded position for the arm that holds the tensioner roller on a 355? I would assume you set the arm as far down as possible, then tighten it's bolt (the one that goes through the rubber bushing). Then after that use the two holes in the tensioner roller assembly to adjust the gap?

 

Is that how it is supposed to work? Does the are just pivot on that bolt? I thought it had a rubber bushing that sort of positions it.

 

It's OK. You're probably right.

 

Thank you for the replies and the help. I got a few hours to work on it yesterday and I now believe that I understand how the system works, but I do have a couple more questions before I button things up.

I used the needle nose pliers in holes 3 and 4 to rotate the roller bases to set the gap. I believe the manual says 2.5mm of gap while others have stated to set it where a pin slides in and out. On my car there is a pretty significant difference between the gap you get with those two methods. I used a 0.103" drill bit, which is about 2.6mm. When I use the pin, I get closer to 0.080. Now I believe the manual says "~2.5mm", so maybe I shouldn't be too concerned about that difference.

A more troubling issue, however, is that once I start to rotate the engine, the gap changes. Furthermore, if I rotate it backwards, this slackens the belts.

For a while I was concerned that one of my tensioners was dead because the gap was changing, but I don't think so. A couple times I took the passenger side one out and put it in the vice to compress it and it doesn't seem dead at all. I did make sure to close the vice jaws very slowly (1/2 of a turn per minute) as I read that doing it too quickly can ruin the dampener.

 

This helped a lot!

 

And this helped the most!