How tight is the balance shaft chain supposed to be? Same as the cams? Or a little softer?
Should the tensioner be difficult to depress?

 

If I recall correctly the tensioner has a ratcheting mechanism in it for it to take up slack as the chain wears and keeps it from depressing too far. If this is the case then you shouldn't be able to depress it much. I just can't remember if it is that way for sure or not.

 

It should be fairly similar in tension but you can tell its slightly looser than the cam chain since it does operate on lower tension while running compared to the cam chains. Make sure the tensioner is not close to all the way out and you shouldn't be able to lift the chain away from the guide with just your fingers.

 

That is also oil pressure powered, there is a hole there between the tensioner mounting bolts.

 

That's interesting! I had no idea it had a hydraulic assist. Thanks all for the info. I expect it is in acceptable condition. I ordered a new one anyhow. Cheap enough to be sure while I'm changing out the cover gasket.