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That appear to be what Guzzi used from the factory, starting around '90. The tension of the spring does seem a bit weak to me, so I've always used the bow type tensioner sold by MG Cycle and others.
That tensioner came on New World motor came here in 93 and enough for all bikes made since then. Have they all taken a sh*t? Then why would it not still be good? Put a timing light on the marks & see if they jump around. I think the bow type is too much tension. All you need it to keep the slack out. How tight is the chain on the back of a bike, not very.
I have installed both types and the bow type is tight to install, that would stretch out chain right away. I put the factory one in my Cali2 in 93 when they became available. After 75K miles it has stayed the same, no slack.
Let's drop this into the mix:I do not believe properly engineered chains stretch in use. Stretching implies permanent metal deformation. Maybe a high powered "drag racing" type machine could pull enough power to permanently deform an improperly chosen wheel drive chain. But we aren't stretching chains by opening and closing valves.In actuality the chain is made up of many articulated segments. Every pivot point is a wear point. In a foot of chain there are a lot of these wear points. If you put 0.005" wear on each and every pivot it only takes 8 links to add up to a full millimeter of elongation. That chain elongation due to internal chain pivot wear is what everyone is calling "stretch".New quality chain, new sprockets, conscientious oil changes and an MG Cycle tensioner and you should be good for 100K miles. The tensioner does ride on the slack side of the chain but it does catch any reverse impulse as a cam lobe gets pushed forward by the valve spring on the closing part of the cycle.MG Cycle tensioner c 80K miles. Chain side plates cut grooves but rollers were supported by the high ridges. This tensioner does add a bit if a "whirring" sound to the engine and the cover helps amplify the sound. It's not objectionable, just different.