"Center" the swingarm between the bearing pins on the frame-- you can insert a 4 or 5 mm allen in the right and left gaps to judge the distance. Torque the bearing pins to 15 ft-lbs to take up all slack, back off and tighten to 7.5 ft-lbs for the proper preload. Tighten the locknuts to a whopping 75 ft-lbs (though a very-very good grunt will suffice). Grease, and you're on the way.
'73 R60/5 Toaster
Luddite. Not just a philosophy, a way of life...