Timing Chain installation ?'s

Edited for the education I just received...

I'm good with it though....I can handle being corrected.

I guess I disagree. All chains will stretch. Even the most expensive. If the new one is even looser than the old one, that is bad. The summit brand line of parts is usually not that good of quality. You could bolt it up and it will run fine that way. I guess it all depends on if it is just a daily driver, or you have some mods done, or street strip or race. I know on all of mine I dial the cams in pretty close. I try to get them within one degree. Again, daily driver - will be all right. Anything else - here is a couple of options. Get a new chain but different brand. I have had good luck with the ford motorsport ones, and cloyes. Really expensive but good is the rollmaster ones. If you really want to check it out good, get a 6" caliper and measure (many times to get good accuracy) and see if you need a shorter than normal chain. If the motor has been line honed before, this is a possibility. Check this site to see how to measure.
http://www.cloyes.com/Aftermarket/TechHelp/tabid/187/Default.aspx

i am going to disagree with 88gt also. the chain should be tight, but with just enough slack to allow for installation. it sounds like the manufacturer had a bad run of either chains, gears or both. or your block has been line bored thus pushing the crank up a fraction and any standard chain you install will be slack. it is also possible that you have run into tolerance stack, where all the tolerances are in the same direction(gears a fraction too small, chain a fraction too large).