Pamco electronic ignition??

Position might depend on bike, but on my CB750 I do it with the motor 15° past TDC.

Ok so you are saying that it is better to open up the alternator cover and position the crank to adjust the cam chain?

Wouldn't it be easier to just let the spring to it's job loosen, then tighten the screw while the bike is running?

Or do I HAVE to open up the alt cover to do it right?

Adjusting the cam chain should be done when there is no tension on it from the rocker arms. I think it's about 90° after TDC on every other rotation?

Makes complete sense... so are the instructions below wrong? (I've also included the link of where this is posted). The method you described is also mentioned.

Re: Cam Chain Tensioner -- Unoffical Manual
Tensioning the Chain - Automatic adjustment with engine running

This is the factory procedure, and should work fine with an engine in good working order.

1. Idle the bike until it's warm (warm enough that it'd burn you if you touched it, i guess)
2. With the bike running, loosen the adjuster nut, wait a few seconds, then re-tighten it. Don't overtorque it. Just snug.
3. If the noise is worse than before, follow manual procedure below

http://www.hondatwins.net/forums/62-engine-discussion/16966-cam-chain-tensioner-unoffical-manual-450-s.html#/topics/16966?page=1

I've never heard of doing a cam chain adjustment on a 360 with the engine running.