Arch, I'm one of the people on sss
I don't understand where the handwheel thing came into this. That wasn't from me.
The eccentric pin at the top in my photo is the adjuster talked about.. That will move the take up lever / arm up or down. Not in or out. you see the pen at teh end is the set screw loosen that. just below is the end of the pin it has a screw slot, use a screw driver and turn it, as you turn watch the end of the arm..
two of my commercial machine use this same adjustment.
yes I get pretty flustered, take the time . to take pic's showing where this adjuster is, only to have some one else that has never seen this come in and say it's wrong because they read something, but don't understand what they read
as I said it's 5 minute fix, as long as the arm isn't bent to bad.