Maybe I'm overthinking this, but if you tighten the adjuster screw tight enough so you cannot move the chain up and down, you must have the spring coil bound, or the piston bottomed out? so when you loosen it to the 1/2 inch chain travel, the chain is under tension, and centers itself/springs back? If this is the method, then have you ever bent the bronze tensioner arm bracket after running for a period??
It seems I used to do it that way, but twice when doing something up there in the head, I found that bracket bent. I have since went with an alloy bracket sold by Bean in hopes it would be less malleable, and was more cautious with the adjustment, such that it would move the distance required under slight tension only. So far, so good.
Jerry