Too much thinking.
Just get it fairly tight and cut on a piece of scrap real quick. You should have decent control. If it is hard to stay on line, its too loose. If you are scared of it being too tight, its too tight.
Thats it. You really only need it to perform they way it is designed.
I do think I have actually seen a little device that hooks onto a saw and you would plink the blade like a guitar string and it would register. Then you would adjust it accordingly. I have heard the note should be a C but have yet to test it out.