A lot of older bikes, particularly British, used an odd number of pins to get the wheel base to the designed optimum. This necessitated using a half link. This half link is the weakest part of the chain, by far. That is why it is no longer used . Most chains do not even have one available.
Ideally you will adjust the chain when the center of the front sprocket, the center of the swing arm pivot, and the center of the rear axle are in a straight line. This is longest point between the sprockets. Here it should have 1/2 to 3/4 inch of slack midway between the sprockets, on the bottom run. From here, any suspension movement will cause the chain to loosen. If nothing else, at least adjust it with your weight on the bike as this is how it is normally ridden. In this case it should have about 3/4 to 1 inch of slack.
Here is the secret trick: Chains and sprockets wear unevenly. Thus there will always be tight and loose spots in the chain. Rotate the wheel and watch the chain. You can see it tighten and loosen. ADJUST AT THE TIGHT SPOT. This will eliminate most noises and will smooth the engagement process. I know it may be "too loose" elsewhere in the run. This will cause no problem unless the chain is worn out and needs replacement anyway. If you adjust at the loose spot, the tight spot will be too tight. This will cause binding and snatching as it rolls over the sprocket.
So don't worry about getting it "perfect". Just get it perfect at the tight spot. Everything else will be fine.