I found this helpful from Mike, print it out and put it in your book.
"I've always found it difficult to measure the total up-and-down play of the chain, because you have to wiggle the chain up and down somehow and also measure how much it's moving, all through a small hole. An easier way is to measure a tight chain compared to a slack chain, since this is half the total up-and-down play. To do this, make two marks 3/16" apart [not 3/8"] on the end of a stick or piece of paper. Then put the bike on the centerstand and the gearbox in 4th, and lie on the ground next to the primary.
Now, if you move the rear tire in the forward direction with your foot, the bottom of the chain tightens and you get all the slack on top. If you move the rear tire in the backward direction, all the slack is on the bottom and the top is tight. So pick out some feature on the chain (top of link, bottom of link, rivet, etc.) , and compare it to the two marks as you move the wheel back and forth. You can easily see how much it's moving compared with the two marks and loosen the chain appropriately. (BUT DON'T OVERSHOOT! If you get it TOO loose, you have to tighten it and start all over again).
Once the tight chain/slack chain play is 3/16", you know the total up and down play is 3/8". I also try to check it later when the engine is really hot. You can do this at the side of the road, and there should be at least SOME play then, or it needs to be a little looser.
Mike Taglieri"
Dave
69S